Stock market: Russian investors holding back oil

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Stock indices has been trading in positive territory, following European sites, which will come out after a vague start. In the global markets remains cautious investor behaviour, which means that the growth potential of the domestic sites will be limited in the short term. Afternoon Mosberg index increased by 0.45%, the RTS increased by 0.75%. The ruble is trading without significant changes, while Brent crude oil is adjusted in the direction of mark 79.
VTB sold nearly half its stake in the “Magnet” – 11.82% of the shares. Recall that a few months ago, the Bank acquired 29% of the securities of the retailer. The buyer was the “Marathon Group”. The transaction amount was not disclosed, but on the basis of market quotations “the Magnet” as of may 23, the package is estimated at $ 62.5 billion rubles. The shares of both parties are showing a modest reaction to reports about the deal. Paper VTB increase in the range of 0.55%, the shares of “Magnet” – in a small minus.
Papers “Rusala” left in leaders of growth, adding more than 2.5%. Quotes ignore the reports that the company’s CEO Alexander Buriko resigned, reflecting the resumption of supplies of aluminium to a number of clients. And we are talking about significant volumes. Specific information not yet disclosed.
Since oil is in consolidation mode and may move to a more pronounced correction as you approach the weekend, and the situation on world markets is not conducive to the manifestation of optimism, at this stage, the potential for substantial strengthening of the Russian indexes is limited. However, the chance for closing benchmarks in the black is if wall street will refrain from drawdown.
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Igor Kovalyov,
Analyst
InstaForex companies group