Russian stock market falls without the support of the ruble and commodities segment

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The world’s major stock indexes finished mixed Wednesday. This ambiguous background and without any new achievements of oil, the Russian market declined. At the end of the day the ruble Mosberg index lost 0.33%, the dollar-denominated RTS index on the background of the decline of the ruble against the dollar fell more at 1.08%. Among the leaders of decline – “PEAK” (-1,48%) and preferred shares of Tatneft (-1,32%). The Dow 30 fell while on 0,22%. In the morning, stock markets of Asia-Pacific countries did not show uniform dynamics.
Futures on the S&P 500 index traded in the morning at around 2935 p., 0.14% above levels of closing of the previous trading day. The external background does not give clear guidelines before opening of the Russian stock market. We expect a neutral start of trading near yesterday’s closing levels. Likely day the corridor index Mosberg is in the range of values 2555-2605 points, RTS index — 1250-1275 points. Today, the financial statements for the first quarter will release “Yandex”, “NOVATEK”, and X5 “Enel Russia”. As Norilsk Nickel and Evraz, will present operational results for the same period.
On Wednesday, oil was unable to repeat the achievement on Monday and Tuesday, when she updated the local maxima, and spent the day in a narrow horizontal range. However, it was still close on Tuesday reached highs since the beginning of November last year. Bidding started at $73,6 per barrel of Brent. During the day the price dropped to $73,4, then rose to $74,0, and finished the day near $73,7.
In the American session, the pressure on the quotes of “black gold” has provided statistics of the energy information Administration of the United States, which showed a rise in crude stockpiles for the week to 5.5 million barrels, while experts expected a rise of 1.3 million barrels. Thus a week earlier, the reserves decreased by 1.4 million barrels. Thursday morning, after declining to $73,5, quotes rose slightly to us $73.9. Likely daily range for today’s trading, Brent crude is $73,1-74,1 per barrel. The medium range which is defined by the closest significant support levels and resistance was reduced to $70,4-74,1. In the case of possible breaking resistance at $74,1, oil price will continue to rise towards $77,9.
The lack of the usual dope in the form of new highs in oil prices struck on the eve of the ruble. At the end of the day on Masuria, the dollar calculations “tomorrow” rose to 64,3225 RUB (+63,5 COP.), and the European currency has grown to RUB 71,7575 (+26 kopecks). The difference in the dynamics of the two currencies due to yesterday’s major decline in the currency pair EUR/USD on the global market with 1,1225 to 1,1155. Morning the recovery of oil prices of oil gives hope that yesterday’s decline in the ruble in the beginning of today’s trading will be suspended. The expected daily range for the dollar is 63,7-65,0 RUB, and the European currency today will be traded in the range of 71.0 per-72,5 RUB.________________
Vadim Iosub,
Senior analyst at information-analytical center “Alpari”