The Russian stock market follows the external background

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Auction Tuesday the Russian stock market started with growth, and by noon, the rise accelerated. Index Mosberg increased by 0.7% and the RTS raliroad almost 1%. Investors decided to ignore the threats of new sanctions and focus on improving the external background, where European markets rise after the markets of Asia. Additional support to the domestic market provides further strengthening of oil prices. The ruble, meanwhile, konsolidiruyutsya slightly below closing levels on Monday, without deciding on a more confident correction.
Shares of Sberbank rose in price by 1,3% after the release of favorable financial results in July, the company. Net interest income for the reporting period increased by 3.3% yoy mainly due to the increase in volume of operating assets. Operating expenses decreased by 8.7%. Net fee and Commission income grew by almost 41%.
Bashneft reported for the second quarter. The company’s net profit according to IFRS for the reporting period doubled 27,436 billion. Revenues of the Issuer increased by 1.4 times – up to 208,587 billion. Operating profit rose by 1.7 times. Profit before taxes doubled compared to the second quarter last year. After the release shares of Bashneft grow by 1.8%.
Domestic investors played the main negative from the announcement of new sanctions from the United States, affecting the debt market of the Russian Federation, and temporarily switched to the positive factors that come from outside. However, the threat on both fronts is maintained, as the escalating trade war between the US and China could occur at any time and to discourage players desire to take the risk.
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Igor Kovalyov,
Analyst
InstaForex companies group