The decision by Moody’s and correction in crude oil the main factors for the Russian market will balance each other

  • And
  • +A

On Friday, most major stock indexes closed lower. The slight decline showed and the Russian market. At the end of the day the ruble Mosberg index lost 0.28%, the dollar-denominated RTS index by strengthening of the ruble declined less, by 0.04%. Among leaders of decrease – MTS (-2,6%) and “Tatneft” (-2,16%). The Dow 30 dropped in this case by 0.25%. The Asian markets were trading in the morning without General areas: Australia was down, Shanghai and Hong Kong were growing up, Japan was closed in connection with the celebration of the founding of the state. Futures on the S&P 500 index was trading in the morning about 2704 points, 0.1 percent below the levels of the previous day’s close.
International rating Agency Moody’s upgraded Russia’s rating to investment grade Baa3 from Ba1, saying that the measures taken by the Russian Federation over the last few years, will strengthen the already strong state budget. However the positive from this news can be balanced correction of oil prices, and today’s shares will start neutral. Likely day the corridor of movement for index Mosberg is in the range of values 2480-2530 points, RTS index — 1190-1210 points. Today the financial results for last year under IFRS will publish gold mining company “Polyus”.
Unlike stocks, ruble on Friday strengthened moderately against the expected decision of the CBR to keep rate unchanged at 7.75% per annum. At the end of the day on the Moscow exchange, the dollar calculations “tomorrow” fell to 65,8100 RUB (-9,75 COP.), and the European currency declined to 74,4975 RUB (-28,25 COP.).
Quotations of currencies affected by the decline of the currency pair EUR/USD from 1.1340 for to of 1.1315. Morning correction in oil prices could have a negative impact on the rouble in the beginning of today’s trading. Expected daily trading range for dollar is 65.2-66.5 per RUB, for the European currency was 73.8-75.2 per RUB.
In Monday trading black gold started lower in the morning they were close to $61,5 per barrel. Likely daily range for today’s trading, Brent crude oil is $60,8-$62,1 per barrel.
______________
Vadim Iosub,
Senior analyst at information-analytical center,
Alpari