The Russian stock market finds pretexts for recovery

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On Thursday, the Russian stock indices traded without enthusiasm. Index Mosberg reduced within 0.5%, reflecting the external environment, where global investors play an “aggressive” rhetoric of the Federal reserve, which raised rates expected during yesterday’s meeting. And even RTS couldn’t hold on to positive territory in late afternoon moved into the red zone amid signs of slowing recovery of the ruble. Brent crude at this smoothes the outer film, although there is bullish potential remains limited.
The shares of MegaFon grow by 1%. The mobile operator won in three instances of dispute with the defense Ministry. It also became known that the company launched unmanned buses on the 5G network during world Cup football. On average, a 0.5% increase in the shares of Sberbank and VTB. In the oil and gas sector is dominated by a sales – paper “Rosneft” and “Gazprom” decrease by more than 0.6%.
Worse than market looked quotes “Rusala” which cheaper by almost 8% after reports about complication of the procedure of the transfer by the shareholders of securities between Hong Kong and Moscow markets due to the requirement of additional information from shareholders in the procedure of the Deposit of shares in clearing center Crest after the inclusion of “RUSAL” in the sanctions list.
Given that foreign investors continue to digest results of fed meeting and in parallel prepare for potential rhetoric of the ECB, rely on a revival of interest in risk is not necessary. Accordingly, the potential for renewed growth of the Russian indexes remains limited, and a clear recovery in the market before the end of this week, we probably will not see. Additional risk carries the oil market, where it can rise a new wave of profit-taking.
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Igor Kovalyov,
Analyst
InstaForex companies group