The Russian stock market is ready to renew historical highs

  • And
  • +A

Major global stock indices on Friday mainly grew. Russian indices are unable to unconditionally support this optimism and closed in different directions. The ruble index gained a modest Mosberg 0.02%, the dollar-denominated RTS index to the weakening of the ruble fell by 0.27%. Among leaders of growth – “NLMK” (+3,11%) and X5 (+1,92%). Among the leaders of decline, “Aeroflot” (-2.5%) and PhosAgro (-2,09%).
On Monday morning the stock indexes of the Pacific rim countries together grew by 0.2-1.3 percent. Futures on the S&P 500 index was trading in the morning about 2705 points, close to levels of closing of the previous trading day. Such a favorable external background we can expect continued growth of the Russian market, and the index Mosberg, in particular, can continue to update historical highs. Likely day trading corridor by index Mosberg is in the range of values 2495-2545 points, RTS index — 1200-1225 points.
During trading on Friday, the ruble has slightly decreased. At the end of the day on the Moscow exchange, the dollar calculations “tomorrow” rose to 65,5050 RUB (+10,5 COP.), and the European currency has grown to RUB 75,0825 (+24,25 COP.). Given the fact that the morning oil traded in a narrow range, close to the levels of market close on Friday, the beginning of today’s trading, the ruble will be held without expressed dynamics, close to Friday’s levels.
Expected daily range of movement for the US dollar is 64.8-66,2 RUB, for the European currency was 74.3-75.8 per RUB In throughout the week activity in the foreign exchange market may be reduced pending the decision of the CBR’s key rate, which will be held on Friday. Most likely the regulator will not bring surprises and will keep the rate at 7.75%.
On Monday morning, the black gold traded in the range of $62,4-$62,9 per barrel. Probable day of today’s trading corridor for oil grade Brent is $62,0-$63,0 per barrel.
______________
Vadim Iosub,
Senior analyst at information-analytical center,
Alpari