The Russian stock market could not resist falling in the range 0.6%

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On Monday, the Russian stock market opened in negative territory and decreases within the tolerance of 0.6% in the afternoon. Investors are tense waiting for news from the G20 summit in Argentina. The oil shows a downward slope that also puts certain pressure on the domestic benchmarks. Index Mosberg losing 0.58% to 2281 points. RTS is reduced by 0.6% to 1247 points. Brent crude oil is getting cheaper day by 0.2%, stuck under a mark of 66. Ruble retreats to a basket of currencies by about 0.3 percent.
In the segment of blue chips was observed multidirectional dynamics. I feel confident the share of AFK “Sistema”, which grows by 2.5%, reflecting the decision of the Arbitration court of Bashkortostan, which granted a joint application of “Rosneft”, “Bashneft”, the Ministry of land and property relations of Bashkiria to AFK “Sistema” and JSC “Sistema-invest” about removal of arrest from all of the assets of AFC.
Within 0.5 per cent rise in price of actions “Rosneft”, in response to favorable statements of the company. By the end of 2017, the net profit of Rosneft under IFRS grew by 27.6% in rouble terms and by 40.7% in dollar terms. Revenue increased by 20.6%. EBITDA grew by 9.8%. The volume of capital expenses in 2017, increased by 30%, and free cash flow decreased by 44,2% to 245 billion rubles.
During today’s session, the domestic indices may accelerate the decline against the background of negative dynamics on external markets, as well as potential hard statements of European Ministers in Argentine summit. Under these conditions, the pressure on the ruble may increase, especially if the oil market buyers will not take the initiative.
Igor Kovalyov,
InstaForex companies group