The Russian stock market has lost the optimism
The Russian stock market ended trading Monday on a negative note under the influence of news about lower growth of industrial production in Russia, which slowed to 1.2%, the negative dynamics of prices for crude oil, the fall of American stock market and ambiguous dynamics at the auctions in Europe.
The market is clearly seen the desire of investors to fix profit previously obtained after one and a half week growth of Russian shares.
The leaders among the fallen in price securities at the end of trading were the shares of oil and gas (-0.90%), metallurgical (-0.87%) and petrochemical (-0.60%) sectors. The MICEX index finished trading with a decline of 0.57% and closed at 2545.12 points. The RTS index fell by 0.51% and stood at 1246.99 points on the wave is weak, the appreciation of the ruble against the dollar and incoherent dynamics to the Euro.
The price of crude oil by the end of trading in Russia has fallen, but still remain in range amid the lack of understanding among investors of the future prospects of the world economy and demand for crude oil.
Prices, on the one hand supported by the OPEC measures+ aimed at reducing production volumes, and the other will not disappeared fears that the global economy will continue to slow in growth.
An additional factor is the active supply of shale oil from американ6ских companies. North sea oil of mark BRENT by the end of trading in Russia has decreased by 0.61% to 71.11 per barrel. West Texas crude oil fell 1.03 percent to 63.23 per barrel.
In the currency market the ruble to the end of the regular trading session received little support, despite the decline in demand for OFZ prices and under the influence of lower prices for “black gold”. The USD/ruble with tomorrow calculation at the end of the trading session lost 0.08% to 64.29 per dollar. The Euro/ruble with tomorrow calculation stopped at close of пятницы0 at around 72.69 rubles for one Euro.
We believe that incoherent dynamics in global markets will continue until the result of the negotiations between China and the US on trade, and until it becomes clearer perspective of world economic growth.
Event day: Tuesday will be published the minutes of the RBA monetary policy, employment data in Britain, the index of economic moods from ZEW to Germany and the Eurozone. Will be presented the production values of inflation in Russia, as well as the figures on stocks of oil and petroleum products from the American petroleum Institute (API) last week.
Are assumed to be the speech of fed members Rosengren and Kaplan, as well as the representative of the ECB Nowotny.