The Russian stock market begins November with caution

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On Wednesday most of the world indices demonstrated confident growth after the end of the month American companies have given good reports. On this background the Russian indexes have shown impressive rally. At the end of the day the ruble Mosberg index gained 2.29%, the dollar-denominated RTS index has grown a little smaller by 1.89%. Among leaders of growth – preference shares “Surgutneftegaz” (+4,18%) and “Yandex” (+3,99%). The Dow 30 increased by 0.97%.
Thursday morning most of the indices of the Asia-Pacific region grew by 0,2%-1,8%. The only exception was Japan’s Nikkei 225, which lost 1.2 percent. Futures on the S&P 500 index was trading in the morning about 2718 p., 0.25% above levels of closing of the previous trading day. The growth of the Asian indices may again support the Russian market, despite falling oil prices. Likely day the corridor index Mosberg is in the range of values 2330-2375 points, RTS index — 1115-1135 points. Today financial statements under IFRS for the third quarter will publish the “savings Bank” and “Rostelecom”.
Unlike the stock market, the ruble on Wednesday fell by returning the correlation with the oil market. The negative factor was not the most successful attempt of the Ministry of Finance to place ruble-denominated bonds. At the end of the day on Masuria, the dollar calculations “tomorrow” rose to 65,8750 RUB (+31,5 COP.), and the European currency has grown to RUB 74,5850 (+19 kopeks). Today amid declining oil, the ruble may continue the downward trend. The expected daily range for the dollar is 65.2-66.5 per RUB, for the European currency was 73.8-75.3 per RUB.
Thursday morning oil continued its decline, this time is smooth, down to $74,5. Likely daily range for today’s trading, Brent crude $73,7-$75,2 per barrel.
Vadim Iosub,
Senior analyst,