The Russian stock market began trading Tuesday on a minor note
The Russian stock market began trading Tuesday on a minor note, which is not surprising, given the sharp deterioration in the external background after yesterday’s recovery of the interest risk, which was short-lived. European stocks accelerated decline after the opening, but the drawdown in oil prices only adds to the negativity. So, closer to noon, the index Mosberg and the RTS falling by 0.62% and 0.85%, respectively. Brent crude fell again under the mark of 79, sitting at 1-month lows. The ruble is trading virtually unchanged, with the support of the tax period.
Despite falling oil prices, LUKOIL shares are rising 3.5% and look better than the market as a whole. The demand for paper due to the reported increase of the company’s weight in the composition of the MSCI Russia index from 16.84% to 19.30% – 246 basis points. The changes will come into force on 25 October after the close of trading tomorrow. Meanwhile, quotations of “Rosneft” cheaper by 2.7%, the shares of “Gazprom” falling by 1.8%.
Paper “Yunipro” lose in value of 2.3%. The company published the reporting for nine months of the current year. During the reporting period net profit “Yunipro” the company has halved compared to the results for the same period last year and amounted to 13,203 billion. But revenue fell 0.5% to 57,426 billion. Profit before tax was two times less than in the same period last year.
If the ruble allows himself to ignore the drop in oil due to the activity of exporters, the Russian market as a whole feels the negative impact from this factor aggravating the effect of the sales in the segment of risky assets in General. While signs of improvement in the attitude of global investors is not observed, and therefore, it is likely that by the end of today’s session in the Russian market will remain a negative bias.
InstaForex companies group