The Russian stock market is able to return to the growth zone

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Towards the end of Asian trading session the trend of avoidance of risk has subsided, paving the way for the recovery of the European indexes. The Russian benchmarks are moderate losses despite the improvement in the external background and the bullish bias in the oil market. Afternoon index Mosberg reduced within 0.7 percent, RTS loses is reduced by 0,22%. Brent crude has strengthened, but has not decided on the breakdown of the level 78. The ruble konsolidiruyutsya with a slight increase, experiencing shortages of momentum.
Quotes “Gazprom” reduced by 0.65%. The Russian company has informed on refusal of the Stockholm arbitration to reduce the price of gas to Poland. It was also noted that this decision is an intermediate in this process, which lasts for three years. In the first half of 2018, “Gazprom” has increased gas production by 8.7% in annual terms. Gas exports to non-CIS countries grew by nearly 6%. In June, gas production grew by 4.2%.
Papers of “Sberbank” cheaper by 0.8%, while VTB’s shares grow by a similar amount. Shares of ALROSA are traded with a slight decline. It became known that the President of the company has increased its share in the authorized capital up to 0,0407% 0,027%. Recall that in free circulation are of the order of 34% of the securities of ALROSA and the Federal property are 33% of the shares.
Despite the lack of optimism in the Russian market, the prerequisites for a more aggressive sales are not observed. In the segment of risky assets lull, oil demand, albeit limited. This situation suggests further consolidation indices with a possible return to positive territory until the end of the session.
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Igor Kovalyov,
Analyst
InstaForex companies group