Russian stock market falls along with the ruble

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Russian stock indexes on Thursday morning decline. However, there is a possibility that during the day the dynamics will change to bullish. Among the stocks in leaders of falling “rosseti” and “MMK”. The leaders of growth “Kuzbass fuel company” and “Dixie.” Also, growing shares of “KAMAZ” in the background of the publication of positive statements for 2017.
The us stock market ended yesterday’s trading lower, the pre-the S&P500 index slightly increases. Brent crude is still trading sideways, today per barrel $73,1.
The Euro/dollar is growing for the first time in two weeks, the U.S. dollar strengthened a lot. Bidding on a pair of pass in the area 1,1975. Afternoon there will be an abundance of statistics from Europe and the United States. The EU will publish its economic forecasts and inflation data. U.S. will present data on business activity and industrial production.
The Russian ruble strengthened against the background of growth of pair Euro/dollar. For one dollar today offer 63,3 RUB, EUR – RUB 75,9 In the near future the ruble will remain weak, preconditions for returning to the old marks yet.
The external background to today’s trading was moderately negative index Mosuri will hold an auction in the range 2290-2320 points.
As the Financial Times, Vladimir Putin is thinking about how to restore relations with the West, because of the protracted international conflicts hamper the economic recovery of Russia. To perform this task, says the publication, on the eve of the inauguration, Putin may appoint to the high office of Alexei Kudrin. Furthermore, Kudrin will take economic powers Medvedev, who is expected to again lead the Government. The FT, citing Federal officials, reported that the ex-Finance Minister Alexei Kudrin, most likely, will receive the post in the administration of the Russian President. It will sound approximately so: the representative of the President for international economic cooperation.
In principle, exclude anything. Unlike the majority of their constituents Vladimir Putin has always been a supporter of liberal market economy. A similar attempt of Anatoly Chubais took Boris Yeltsin before the 1998 default. Then, however, it did not save the situation. A big budget did not cause much confidence from foreign investors.
However, from our point of view, the return of Kudrin is very unlikely. In the heart of the conflict between Russia and the West fundamental geopolitics, not a local conflict of interest. And the President of Russia can not understand. However, if the FT is right, then the return of Kudrin will be good news for
the ruble and stocks of Russian companies. Global investors love the liberal economists around the world.
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Alexander Razuvayev,
The Director of analytical Department,
Alpari