The price of crude oil soared amid a compromise solution to the OPEC+

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The Russian stock market finished Friday’s trading in positive territory, thanks to increased investors ‘ demand for risky assets and higher prices for crude oil.
Among the leaders who grew up in the price of securities at the end of trading were shares of companies in the financial (+0,88%), machinery (+0,87 %) and energy (+0.47 per cent) sectors.
MICEX index by the end of trading in Russia rose by 0,17% and was closed at
2249.68 points. The RTS index jumped 1.32 percent, and stood at
1125.41 points on the wave of strong growth of the ruble against the U.S. dollar and the Euro.
The price of crude oil by the end of trading in Russia soared amid the compromise decision of OPEC to increase oil production not expected before 1 million barrels per day, and only 600,000 barrels per day. The price of oil Brent by the end of trading in Russia have jumped by 2.15% to $ 74.62 a barrel. WTI soared by 3.97% to $ 68.14 per barrel.
In the currency market, the ruble traded higher against the Euro and U.S. dollar through the end of the summit of OPEC+. It also supported the resumption of the decline in the yields of OFZ bonds in the Wake of the demand for ruble assets. The USD/ruble with maturity calculations “tomorrow” to the end of the trading session fell by 1.17%, to 62.96 rubles per dollar. The Euro/ruble with maturity calculations “tomorrow” has decreased on 0,88%, to 73.27 rubles per Euro due to the growth of the Euro on the Forex market coupled with the U.S. dollar.
The increase in oil prices and renewed investor interest in risky assets can support the national stock market and the ruble at the beginning of a new week.
The events of the day:
Monday will be published the index of business climate IFO of Germany and data on new home sales in the United States.
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Sergey Kozlovsky,
Head of analytical Department,
Grand Capital