The ruble and the stock market tired of growth

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The Russian stock market, on Thursday launched the decline. To date, the leading benchmarks shrink by 0.5% in average. The largest decline included the shares of “Rostelecom” and “Akron”. In the “green” zone remain paper “Russian grids” and “Aeroflot”. During the day the register of shareholders for participation in EGSM close NGP. Operating results for the Dec will publish the Moscow exchange.
Tatneft has reported on the growth of production in 2018 by 2%. According to the data, production of the company reached 29,534 million tons. Earlier, the shareholders of the company approved the payment of dividends for 9 months of 2018 in the amount of RUB 52,53 given the dividends for 6 months of 2018. Payment for the III quarter will be 22,26 RUB.
The external background to today’s trading formed a mixed. U.S. markets ended the previous session in positive territory, futures on the S&P in premarket falls. Oil prices corrected after rising earlier, a barrel of Brent traded at $60,72 (-1,2%). Statistics from the US Department of energy showed a small reduction of stocks of raw materials, but the market is more focused now on negotiations between Washington and Beijing on a trade agreement. It is already known that China is ready to guarantee the purchase of American energy, and agricultural products.
The outcome of the negotiations is important, as China is the largest consumer of raw materials, if commercial relations between the two countries greatly complicated, it will inevitably lead to the deterioration of the economic indicators of the country, the demand for raw materials, and hence to lower prices. Accordingly, the prices of energy will be under pressure.
Euro/dollar in the morning was slightly increased. Key trades are about 1,1550 (+0,1%). Sharp decline in the dollar has occurred against the publication of minutes FOMC, the content of which did not meet market expectations. Investors had expected to find in the protocols of the precise timing of the rate increase and the level that the fed considers acceptable. But neither the one nor the other in the Protocol was not. The fed has not indicated the timing of an increase and even, on the contrary, let it be understood that it may slow in this matter. This was seen by speculators as the easing of monetary policy, which caused a surge in the EUR/USD pair.
Today, the minutes of the meeting on monetary policy will publish the ECB. States will present data on unemployment, new home sales and trade balance. Speech by the head of the U.S. Federal reserve, which may give some clarification on the future plans of the fed.
The Russian rouble is retreating slightly in a basket of currencies. The greenback early in today’s trading is 66,88 rubles (+0,2%). The pair dollar/ruble will spend this day trading within 66,50-67,50 RUB, EUR/RUB protorguetsya within the boundaries of 77.00-77,65 RUB.
Index Mosberg protorguetsya Thursday within 2380-2410 points.
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Anna Kokoreva,
Deputy Director of information-analytical center,
Alpari