The new sanctions are not surprising, but the Russian share market since morning will remain under pressure

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Major world stock indices closed on Thursday differently. A number of American companies, including Qualcomm Inc, showed a lack of accountability over the previous quarter and gave a lower-than-expected sales forecast for the current. Against this background decreased and the Russian indexes. At the end of the day the ruble Mosberg index lost 0.27 percent, the dollar-denominated RTS index due to the growth of the dollar dropped more-0.77%. Among the leaders of decline, “Aeroflot” (-2,09%) and M. Video (-1,92%). The Dow 30 increased by a modest 0.04 percent.
On the morning of Friday the indices of the ATR consistently decreased on 0,1%-2,4%. Futures on the S&P 500 index was trading in the morning about 2809 points, close to levels of closing of the previous trading day. The fall of Asian markets and decline in oil prices may weigh on the opening of the Russian market of securities. Likely day the corridor index Mosberg is in the range of values 2415-2465 points, RTS index — 1145-1165 points. Today the reporting for nine months on MSFO will publish TGC-1, and “Cherkizovo” – operating results for October.
Following the stock market under pressure was the ruble. At the end of the day on the Moscow exchange, the dollar calculations “tomorrow” rose to 66,9025 RUB (+58,25 COP.), and the European currency rose to 75,9750 roubles (+10 kopeks). Against this background, the Bank of Russia reiterated that it will not return to the market with purchases of foreign currency by the end of this year, but it will remove the uncertainty and to the end of the year will reveal its plans for the timing of the resumption of purchases. New portion of us sanctions have involved a group of individuals and legal entities and will have a major impact on the currency market, although it may have short-term psychological effect. Its negative impact on the quotations of the ruble will have a rather cheapened oil. Expected daily trading range for dollar is 66.2-67.6 per RUB, for the European currency of 75.2-76.7 per RUB.
On the morning of Friday prices on black gold tried to test critical support at $70,5, but the first time it failed to overcome, and they are quite a bit rebounded, returning to $70, 7 per barrel. Likely daily range for today’s trading, Brent crude oil is $70,5-$71,4 per barrel.
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Vadim Iosub,
Senior analyst,
Alpari