The Russian stock market in a holiday falls, reminding people of the problems in the economy
In the holiday, but the trading day quotes for Russian stocks in General are down. The trading volume probably will be below average, some market participants prefer kebabs and other holiday greed. The RTS index and the index of Mosuri in the red less than 0.5%. The leaders of growth shares of Severstal and Raspadskaya, which added about 1.5%. In leaders of falling of actions “M. Video” and “IDGC of Centre”, a decrease of approximately 3% and 2% respectively.
Shares of “Rosneft” in a weak positive territory, likely speculators play Friday the news of the defeat in the court against Russia for holders of ADR of Yukos. Claims, both core and minority shareholders of Yukos long ago have nothing to do with the business chief of Russian oil companies, but speculators out of habit put an equal sign between Rosneft and the Kremlin.
The dollar is trading against the ruble virtually unchanged at around RUB 62.523 -0.004%. Many market participants expect a slight strengthening of the Russian currency on the background of the start of the world Cup. Russia needs to visit more than one million fans initially expected a maximum of 600 thousand On the backdrop of additional demand for rubles is expected the strengthening of the Russian currency by about 2-3% from current levels. While the Russian Ministry of Finance buy foreign currency, is actually supporting the dollar, even against the backdrop of high oil prices, a serious strengthening of the Russian currency should be expected.
Index Mosberg today auction around the level of 2270 points.
Key events a new week for the stock market and rouble will be the fed meeting, the ECB and the Central Bank. On the background of the probable acceleration of inflation the Central Bank will probably leave its key interest rate unchanged at 7.25 percent.
The Director of analytical Department,