The Russian stock market is growing, but the external background remains unstable
Russian stock indexes began trading Friday with a fighting spirit. To the opening of trading in Russia the flight from risk that has been observed almost throughout the Asian session, dispelled, forming conditions for the resumption of purchases. However, growth momentum remains limited due to the reluctance of investors to take risks on the background of the launched today’s summit of OPEC. Afternoon index Mosberg increased by 0.6% and RTS is increasing by 1.5%. The ruble is adjusted after a morning of growth, but Brent tends to be around 74, recouping yesterday’s losses.
The banking sector reacted with restraint to the growth of the national currency. VTB shares rise 0.23%, the paper “savings” the rise in price on 0,78%. In the oil and gas sector observed mixed dynamics pending the decision of OPEC exporters+ for the extraction. Quotes “Rosneft” on a symbolic decrease of 0.02%, “Gazprom” increases by 0.83%, actions “Tatneft” add little more than 1%.
“MegaFon” announced the possible sale of its mobile towers in 2019. In particular, the potential sale prepared 15 thousand of antenna-mast structures. However, for investors this is not news, as the company mentioned plans to sell its tower business in the spring of last year. The action of the operator be increased within the day within 1%.
Despite the local positive, stock indices of the Russian Federation are still subject to downside risks due to the volatile moods on foreign markets and nervousness before the decision to increase oil production countries of OPEC in the format+. However, if the indexes wall street will follow the example of European colleagues, the Russian market will finish today’s session in positive territory.
InstaForex companies group