Stock markets began the trading week with a decline

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Stock markets began the trading week with small drawdown in response to the predominantly negative external background. However, towards the noon, the major indices moved into growth zone, partly thanks to the bullish bias in the oil market. While moderate pressure on European markets constrains the upside potential of the domestic market. Thus, the index Mobri increases within 0.2% and the RTS rising 0.3%. The ruble continues to strengthen against the dollar and slightly dominates the Euro. Brent crude continued to oscillate around the level of 75.
Paper “Russian grids” are getting more expensive by 0.6% after reporting. The company’s net profit under RAS in the first half amounted to 42,314 billion rubles after a loss of $ 22,865 billion rubles a year earlier. Revenue grew by 3.7%. Gross profit increased by 3%, and profit before tax was 42,259 billion rubles against a loss a year earlier of $ 22,55 billion.
Shares of Sberbank are recovered almost 1% due to the resumption of purchases of the ruble. Over 1% add paper “Surgutneftegaz”, continuing to regain from Friday’s statements, according to which the company’s net profit under RAS in the first half increased six times. The results contribute to the growing expectations of the dividend payments and increase the attractiveness of securities.
Given that us futures are traded with a touch of negativity in anticipation of further corporate reporting for the second quarter, before the end of the session we can hardly expect a substantial increase of the Russian indexes from current levels, especially in the oil market there are no preconditions for a strong price movement in a northerly direction.
Igor Kovalyov,
InstaForex companies group