The Russian stock market cautious over oil and trade tensions

  • And
  • +A

At the start of trading on Monday Russian stock indexes showed drawdown in response to caution investors on the international markets due to the escalation of trade conflicts between the US and China. Negative added oil that morning updated 2-month lows. Subsequently, however,
quotes of Brent managed to attract demand and rise in the green zone, which has eased pressure on the domestic benchmarks. Afternoon index Mosberg gaining 0.11 percent and the RTS have reduced intraday losses to a quarter percent.
Among the most liquid securities better than the market looked VTB shares, rising 2.7%, quotes “inter RAO”, added 2.5 percent, and shares in Bashneft, where the rise of nearly 2%. FGC, which owns of 18.57% of shares of “inter RAO”, sell only 10% stake in the company, of which is 6.33% will redeem “inter RAO Capital” and to 3.67% — IR “Region”. RusHydro sells its entire stake of 4.92% of “inter RAO Capital”.
Papers “Gazprom” has traded slightly lower after reports that the Ukrainian “Naftogaz” appealed to the Swedish court of appeals to cancel the order to suspend the execution of the decision of the Stockholm arbitration on collecting with “Gazprom” 2.6 billion dollars. Against this background, remained unnoticed, the news that the Russian company has again started talks with Seoul on construction of a gas pipeline through North Korea.
Oil has risen in price, but remains vulnerable and could resume falling at any time. Against this background, domestic investors are unlikely to be solved by active purchases in the near future, especially around trade disputes between Washington and Beijing remains uncertain. Ahead of the summit of OPEC+ this week do not expect a full surge of purchases in the domestic market.
Igor Kovalyov,
InstaForex companies group