The ruble and oil prices not yet decided on the direction

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A good external background, where European stocks moved to the active growth, pulled the Russian market in the area of robust recovery – at the auctions on Tuesday the index Mosberg and RTS added an average of 1%. Index Mosberg once again rewrote the historical maximum directly under the mark of 1250 points, which the benchmark may need an extra boost.
Local optimism index came from the reporting “Rosneft”, which grew net profit by 2.5 times compared with the 2017 year. Revenue increased by 37% and EBITDA jumped to 48.6%. Oil production last year increased by 2.1% to 230 million tons, while gas production decreased by 1.7%.
Oil, meanwhile, is still unable to determine the precise motion vector. Brent crude touched the level of $ 63 per barrel, where it rolled and settled near opening levels. Players continue to evaluate the potential effect of new us sanctions against Venezuela that are still can provide to the market, the tightening position of Washington, which may prohibit the completion of transactions entered into before the imposition of sanctions on January 28.
The ruble continues to trade fairly apathetic, trading in positive territory against the dollar and strengthened within quarter of a percent in tandem with the Euro. The dollar, which is now challenging the region 65,40 RUB, continues to gravitate to the level of 65 rubles., despite the strengthening of the USD index in Forex and lack of positive signals from oil market. However, in such circumstances, quotes are unlikely to produce a significant drawdown, which still fit into the framework of consolidation.
Gennady Nikolaev
Academy of management Finance and investment