The Russian stock market ended the summer with a confident growth

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The Russian market closed trading five-day week in good spirits with an eye on external positive, where the interest for risk recovered through the statements of the USA and of China’s readiness to resume trade negotiations. The conflict between the two countries remains a key factor for global sites, responding to any news from this front.
From September 1, entered into force a new mutual tariffs previously announced, but since their announcement, the rhetoric from Washington and Beijing has softened, which has revived hopes for progress in upcoming negotiations. The results of Friday Mosberg index rose by 0.95% to 2740,04, and RTS has raised on 0,65%, having reached 1293,32.
After a steady rise during the week Brent crude oil slipped sharply on Friday, largely due to the acceleration of the dollar rally, correction of positions in connection with the end of the month and lock in profits before the long weekend in America. Brent retreated from the highs in the area of 60,60 USD and closed at level 59. Morning quotes, trading almost unchanged, despite the sharp decline in drilling in the United States (-12 units, up 742 EA), reports of increasing hurricane Dorian and the signs of fading bullish momentum of the dollar. The key level for the buyers is the level of 60 dollars, the break of which is required to restore a positive technical picture in the short term.
Today, trading activity in the steel sector is likely to be reduced in connection with the celebration of labor Day in the United States. Will be reduced and the amplitude of fluctuations of dollar pairs in the absence of statistics. Meanwhile in the Eurozone, Germany and the UK submitted data on business activity in manufacturing, which may have an impact on the dynamics of the Euro and the pound. The key event of the week will be Friday’s employment report in the United States. For the Russian market will be an important meeting of the Bank of Russia, which he most likely will lower rates again by a quarter percent.
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Alexander Timofeev,
Director for analysis of financial markets and macroeconomics
IR “Instant”invest