The Russian stock market has accelerated the fall
The Russian stock market began trading environment on a minor note, and in the afternoon indexes slightly accelerated the fall. More noticeable drawdown shows RTS, which is losing 0.8 percent on the background of the retreat of the ruble. Index Mosberg cheaper within 0.3%. On foreign exchanges, there is no optimism – European stocks moving in different ways, following Britain APR.
Risk aversion has resumed on the backdrop of the trump, who now plans to enter 10% and 25% tariffs on Chinese goods at $ 200 billion. Brent does not add optimism, already closer to around 73 in the development of a bearish correction yesterday.
Against this background, quotes of Rosneft, losing more than 1%, despite positive statements by the British British Petroleum. According to the company, second quarter net profit of Rosneft attributable to the BP rose to 766 million dollars, which promises a giant good overall results. In particular, the net manufacturer’s profit could grow by 2.6 times. Recall that BP owns 19.75% of Rosneft shares.
There is the internal factor of pressure on the indexes of the Russian Federation. Last month, the PMI manufacturing sector fell from 49.5 to 48.1 for the third time in nearly two years when it drops below 50 points, which separates growth in activity from contraction. Moreover, the July figure was the lowest since April 2016, partly due to weakening consumer demand and a drop in new orders.
Given this factor, the renewed fears of a trade war between the US and China, cheaper oil and the General caution of the investors before the announcement of the outcome of the fed meeting, the prospects for the recovery in Russian stocks in the short term are unclear.
InstaForex companies group