The ruble will fall due to correction in the oil market

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The Russian stock market on Thursday evening returned to sales after a short pause. The passage index Mosberg above 2300 points, it seems that investors considered excessive optimism, although special negative external news background and the situation not too much. Rouble indicator is returned, thus, in previous short range 2250-2300 points. The RTS index until it looks ambiguous, revealing there is a tomorrow, the likely trading range is 1250-1270 points.
The shares of “M. Video” (+3,15%) on Thursday was among the leaders of the demand. First, the company is well reported for 2017, showing a net profit of 25%. Second, in support of the papers played the news about the intention of “M. Video” redeem “Eldorado” for a 45.5 billion rubles For the transaction will require borrowed money, but it is unlikely to become the company’s major obstacle. The purchase will be completed by the end of the second quarter of 2018, that is fast enough according to the market standards. The acquisition of a competitor will strengthen the position of “M. Video” on the market that is clear, and redirect the flows of potential buyers here.
Paper “Raspadskaya” (-10,5%) today looked bad. Stress such as this, last time was March 9 of last year, while the shares for the session slipped by 9.5%. Despite the information about the net profit of the company for the year 2017 in accordance with IFRS 1.7 times, the market is upset because of the decision of the Board of Directors not to pay dividends on the securities over the last year. Although, to be surprised – “Raspadskaya” did not pay dividends for several years, redirecting profits into development. Stable coal prices and other positive conditions can be the basis for the formation of a stable dividend policy, but it will not happen tomorrow.
In oil there is a correction that pulls the rouble too. The US dollar is back above 57,10 RUB, but full-fledged uprising channel will say when you pin the American currency above 57,50 RUB the Euro also maintained its position in the corridor 70-71 RUB, predictable and adequate for current exchange conditions.
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Anna Bodrova,
Senior analyst,
Alpari