The Russian stock market: Investors are reluctant to go against global trends

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The Russian stock market opened Wednesday with a continuation of the decline that started yesterday. To date, the major stock market indicators subside at an average of 0.5% among the outsiders marked the morning of the action “the pole Gold” and “Samara”. Remain in positive territory paper “Children’s world” and “System”.
The external environment for today’s session formed a minor. U.S. indices concluded in the previous auction a slight decline, the index futures S&P premarket falls. The oil market greeted the new day sales. Factor is hurricane season in the Gulf of Mexico is already priced in, and now the market will wait for the updates of information on this subject. A barrel of Brent traded at $77,59 (-0,7%). Investors today will be waiting for publication of the data of the American petroleum Institute’s energy resources in the U.S. last week.
Euro/dollar this morning continued to decline. The main auction is held near 1,1570. Day, the Eurozone will release statistics on business activity index in the service sector in August, the same data will represent a number of European countries. In the evening you should pay attention to the stats, the US trade balance, and the Bank of Canada meeting and decision on interest rates.
The Russian ruble continues to fall in price in a basket of currencies. In the first hour of the session, the dollar was worth about 68,44 rubles (+0.4 percent). It will be interesting to observe the course of today’s auction the Ministry of Finance on placement of OFZ for sale assumes only one issue of a limit of RUB 15 billion Auction last week ended for office is not the best way – the limit has not sold out. The likely trading range of the pair dollar/ruble on Wednesday is 68,20-68,60, Euro/ruble – 78,80-79,45.
Index Mosberg protorguetsya today within the band 2320-2345 points.
According to information from business circles, the destabilization of socio-political situation in Germany, the pretext for which was the events in Chemnitz, caused by a US desire to prevent further normalization of German-Russian relations after a meeting in Merseburg and Merkel’s visit to the republics of Transcaucasia. To this end, was involved American agents of influence in the Islamist and the right environment Germany, as well as the factor of the US-controlled global mass-media.
Yesterday a lot of fuss about the statement of the head of the Bank of Russia Elvira Nabiullina on the possible increase in the key rate of the Central Bank. The last time the Bank of Russia upped the ante in December 2014. From our point of view, it is possible but unlikely, and can only be a reaction to the tough anti-Russian sanctions and the sharp volatility of world markets. Of course, this is unlikely to please borrowers, primarily real sector of the economy. However, are encouraging investors. Plus this story is only one Central Bank is independent, including on the part of borrowers.
Alexander Razuvayev,
The Director of analytical Department,