The ruble strengthened on Friday after a week of sales

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The Russian stock market finished Friday’s trading in positive territory, despite the lack of positivity in the negotiations between the United States and Canada by the North American agreement on free trade (NAFTA). It seems that investors decided to buy hard enough losing the paper, despite the apparent lack of positive side of foreign players in relation to ruble-denominated assets.
The leaders among the raise in the price of securities at the end of trading were shares of companies in energy (+1.74 percent), financial (+1,20%) and engineering (+0,87%) sectors.
The MICEX index ended the trading session higher by 0.64% and closed at 2345.85 points. The RTS index jumped 1.56% and stood at 1092.29 paragraph on the background of the appreciation of the ruble against the dollar and the Euro.
The price of crude oil by the end of trading in Russia has decreased on the wave of increased uncertainty about whether agreement has been reached between Canada and the United States. Quotes of Brent oil grade BRENT by the end of trading in Russia has decreased on 0,27%, to 77,81 USD per barrel.
West Texas crude oil fell 0.51 per cent, to of 69.89 dollars per barrel.
In the currency market the ruble to the end of the regular trading session climbed against the dollar and the Euro amid strengthening U.S. currency on the Forex market. The Russian currency again showed “originality”, moving against the General trend. The rouble remains hostage to the expectations of new economic sanctions of the USA against Russia. And its strengthening in the end of the week like the closure of a number of short ruble positions. The USD/ruble with tomorrow calculation at the end of the trading session has decreased on 0,81%, to 67,68 rubles per dollar. The Euro/ruble with tomorrow calculation fell by 1.41% to 78,50 rubles on the background of the fall of the Euro in the Forex market.
The rouble has a chance to grow locally against the dollar and the Euro on the wave of profit-taking.
The events of the day:
Monday weekend in the US and Canada in connection with labor Day. One of the interesting statistics highlight the publication of retail sales in Australia of the index of business activity in production sector of China, Russia, Germany, Eurozone and the UK.
There will be a meeting of OPEC and expected the President of the Chicago fed Evans.
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Sergey Kozlovsky,
Head of analytical Department,
Grand Capital