The Russian stock market at the beginning of the new June weeks significantly weakens

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The Russian stock market at the beginning of the new June weeks significantly weakens. Mosuri the index broke the lower boundary of the short-term corridor 2220-2250 points, and now the little that prevents him to go down to 2200 points. From there, open the way towards 2175 points. The RTS index went down under 1100 points, sellers focus on care in the area of 1080p.
The price of oil today once again changed direction from minus to plus active. The focus of the June meeting of OPEC in Vienna, which will discuss the issue of limits of daily oil production. Tonight again there’s updated info on this.
In the publication Bloomberg says that OPEC may discuss the revision of the production to increase to 300-600 thousand barrels, up from 1 million barrels, as it was known before. Oil prices reacted to the increase: 1 million barrels – more than 80% of the volume, which OPEC many months carefully “cleaned” from the market, a smaller amount of the market is not so scary.
The ruble, on the one hand, feels supported from the beginning of the tax period in Russia, and volatile oil. With another minor in the secondary market OFZ and quite strong dollar does not allow to relax. As a result American currency holds above 63,50 RUB, still have a chance at passage to 64,0 RUB is quite high. Euro/ruble still teetering within 73-74,00. It is worth to note that this week the ECB President Mario Draghi three times speaks, and it can influence the behavior of the Euro.
Among the leaders of today’s growth in the domestic market are highlighted in the paper “VTB”. It looks like a certain strategic interest in the paper is trying to break the downward trading channel, but how sustainable are buying, is difficult to say. In order for the paper back, at least in “sideways”, you need to rise above 0,05 RUB. in the meantime, the stock price does not exceed RUB 0,046
The shares of Severstal today look worse than the market. Tomorrow, June 19, the company closes the register for the receipt of dividends, because a few days of the campaign will look weak, and then will recover in the range of 1000-1050 RUB.
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Anna Bodrova,
Senior analyst,
Alpari