Stock market: Russian investors breath

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After an aggressive push to record levels yesterday, the index Mosberg tempered somewhat and is trading in line with the moderate correction of the bid Tuesday, falling to within 0.5%. RTS that morning strengthened after the ruble, which reached a 2.5-year highs, has left on negative territory, after cooling interest in buying Russian currency. The dollar index depreciates between 0.2%, is located in the area of 1322 points.
In the segment of “blue chips” yesterday’s rally gave way to profit-taking. Under pressure most of the trading of the securities of the corporate sector. Against this background, stand out sharply shares “Lenenergo”, which rose in price by almost 10%, reflecting statements. By the end of 2017, the company’s net profit grew by 1.7 times compared to the previous year. Revenue grew almost 22%, profit before tax of 1.6 times, and the cost of sales increased by 9.6%, amounting to almost 54 billion rubles.
More than 1.5% to lose the papers “Norilsk Nickel”, “Russian grids” and preferred shares of Surgutneftegaz. Shares of Sberbank and VTB are adjusted to average down 1% after yesterday’s growth. In the oil and gas sector also dominate sales on the background of the corrective signals in the raw materials segment. On this background look good quotes “Magnet”, rising in price by 2%. Look good and paper “Megaphone”, adding about 0.7% after reports that MegaFon and Veon has completed the process section of “Euroset”.
The current pullback in the Russian market looks quite natural. Further, in many respects dynamics of the domestic indexes will depend on investor sentiment in global stock markets, which, in turn, will evaluate the tone of an upcoming speech by fed John. Powell in Congress. If his statements seem neutral and non-aggressive players, the interest risk will continue. In this case, the risks of developing a bearish correction on the Russian platforms will be limited.
Igor Kovalyov,
InstaForex companies group