The Russian stock market has spent the day unprincipled
The Russian stock market held a boring trading day. Major stock indices hardly changed, although in separate papers observed significant fluctuations. Index Mosberg remains a prisoner in “sideways” 2280-2335 points, while the trading volume this week is significantly below average levels. The RTS index remains within the 1270-1300 points. This stability and low activity are provided, apparently, scarce news flow, the absence of important macroeconomic data (but it is) and the pre-election silence in Russia.
Shares of “Aeroflot” (+1.4 per cent) on Tuesday were among the market favorites. On the one hand, in support of the securities play corporate news about the growth in February passenger traffic by 10.4%. On the other hand, the stock last week scrapped the medium-term trading channel after the breakout of the resistance at the level of RUB 152 Now the new target of buyers is the area of 162-164 RUB.
Papers “the Magnet” (-1%) drift at the upper boundary of the “sideways” 4280-5260 RUB Previously mentioned that the stock has the potential of movement in the direction of 5500 rubles, and the forecast is not yet canceled, but the market is not too confident in the strength of the stock in the short term. The news of the approval of the transaction on purchase of shares of “Magnet” Bank “VTB” and intentions of the new owner to use the branches of “Mail of Russia” in the interests of the retail network not found no response from stock investors.
The Finance Ministry on Wednesday will offer investors OFZ in the framework of auctions with a total volume of 40 billion roubles Is a sufficient limit, but not the highest, as the history of past auctions. Most likely, the demand for paper is high, about twice higher than supply. This will support the ruble in the first half of the day, and then the market will return to everyday life.
The US dollar continues to teeter within 56,50-57,25 RUB, this range is traded long and not interesting, but without clear facts and strong drivers of the dynamics will not. Probably have to wait at least a week in order to see any marked fluctuations in ruble pairs. Unless, of course, the background does not interfere.