Russian stock market falls along with oil prices

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Sensitively reacting to the deterioration in the external background, the Russian stock market opened on Tuesday in negative territory. European markets fall as Asia due to the fading interest in risk, which increased in the early weeks after the conclusion of a trade agreement between the U.S., Canada and Mexico. Afternoon index Mosberg losing about 0.5% and the RTS falling by 0.7% in response to signs of a reversal of the ruble after an impressive growth. The us dollar, rebounding from the level of 65 rubles., is testing the area of 65.50 RUB.
More than 10% jumped shares of “Rossetti” (the rise was more than 12%), exhausted in gainers in today’s session. Such a violent
the reaction of the quotes associated with the talk on the subject of a possible reduction in the state share in the capital of the company through additional issue of shares. In particular, we are talking about a potential decline in the share of state involvement with 88,04% to 75%. Placement of securities can be started at the end of next year.
In the oil and gas sector, there are sales on the background correction of quotations of black gold with new highs 4 years ago. Quotes “Rosneft” decrease by 0.53%. The shareholders of the company approved dividends for the first half in the amount of 154.5 billion (14,58 RUB per share). In the first half of “Rosneft” got record profits, which have quadrupled LUKOIL Shares are cheaper by almost 2%.
Rolling back prices Brent crude oil put additional pressure on domestic assets, including ruble, who was forced to give in to pressure from the dollar bulls that dominate in Forex. The depth of fixing of profit in the Russian market until the end of today’s session will depend on the behavior of the indexes wall street. Reasonable drawdown will limit the pressure on the Russian indexes.
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Igor Kovalyov,
Analyst
InstaForex companies group