The Russian stock market caught the wave of external negativity

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After yesterday’s drawdown of Russian stocks opened in negative territory. At the beginning of the session, the RTS has fallen by 1.5% and in the afternoon konsolidiruyutsya on the achieved levels, while refraining from further decline. Index Mosberg decreases in the range from 0.7%, hitting a new 2-month lows. The combination of negative external background and uncertainty in the oil market has left the domestic sites of the chances of recovery. Brent after local restore is again trading in negative territory, waiting for the OPEC summit in Vienna.
Papers “Gazprom” cheaper by almost 1%. On 15 June, the Russian company increased gas exports to non-CIS countries by 5.6% compared to the same period last year to 93.6 billion cubic meters. Production during the same period increased by 9.1% or 19.7 billion cubic meters, compared with the first half of 2017. Recall that last year “Gazprom” has increased gas export to far abroad by 8.4%.
Worse than market looked quotes NLMK, falling 7.5% after purification from dividends. Papers of “Sberbank” cheaper by 1.3%, and VTB shares are more modest losses in the range of 0.5%. VTB is negotiating with an Internet company Alibaba on cooperation. In particular, the parties may create a joint venture. The Russian Bank expects to be able to provide financial services to merchants using the Chinese marketplace. However, the press service of VTB reported that the Bank is not negotiating about the JV with Alibaba.
Amid the escalation of trade confrontation between Beijing and Washington, the conditions for the return of interest in risk in the near future is not expected. Us futures are down decently, signaling a further outlet at the official opening. So, the chances of recovery of the Russian market before the end of the session virtually no. Partially to correct the situation can only recovery in oil prices, but it is not expected a steady rise due to nervousness of players ahead of the summit of OPEC+.
Igor Kovalyov,
InstaForex companies group