The attempt of growth on the Russian stock market has failed

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Once again attempts to resume growth in the Russian stock market turn into a failure. So, after yesterday’s recovery leading indices are falling again under the influence of negative external background, which was exacerbated by new threats trump against China. Index Mosberg, who yesterday managed to near 2-week highs, retreated 0.31%, while RTS following the ruble, is declining by 0.5%. The Russian currency continues to retreat, making the dollar the way to the mark of 58 rubles.
In the segment of the most liquid securities there is a negative dynamics. In contrast with the overall mood of the behavior of the shares of “Russian grids”, which broke into the lead, adding as much as 6.5% in part a reaction to statements. The company’s net debt at year-end 2017 decreased by 3.3% in annual terms. EBITDA for the reporting period grew by 18.3% and amounted to 313,7 billion. The net debt to EBITDA ratio decreased from 1.8 in 2016 to 1.5,and the assets of “Russian grids” increased by 6.3%.
Meanwhile, shares of Sberbank, which is also presented today is reporting, are unable to enjoy good results and decrease of slightly more than 0,5% under the influence of the negative and the ruble factor. The Bank’s net profit under RAS in the first quarter grew by 26.4% in annual terms. For March increased by 32.5%. Net interest income increased by 7.2% due to the increase in the volume of earning assets and lower cost of funds.
In the afternoon, the White house is expected to announce new sanctions against Russia. So, the pressure on the domestic indices may increase, although sales of the new restrictions will not cause. Russian courts will continue to repeat the dynamics of foreign markets, the perceived threats trump less emotional, but still remain in a depressed state.
Igor Kovalyov,
InstaForex companies group