The Russian stock market is trading in the moderate lift

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In the second half of day the Russian stock market is trading in the moderate recovery, reflecting a favourable external background where investors “celebrate” the new agreement between Beijing and Washington on the resumption of trade negotiations in early October. The decline of political tensions in Hong Kong and Britain, where decreased threats Brekzita without a deal, is also fuelling optimism global sites. On this background the index of Mosuri and RTS added on average 0.5%. More stable growth prevent the signs of fading bullish momentum in the oil market.
Brent retreated from the highs over the mark 61 dollar per barrel, but remained in positive territory, having just returned above the level 60,50 dollars. Market participants act out the improving geopolitical backdrop, as well as new U.S. sanctions against Iran. Yesterday’s API report showed that last week crude oil inventories in the US grew by 400 thousand barrels, which somewhat reduced the positive expectations for today’s official report from the energy Ministry, as many players expected to decline. In the short term, the quotes are likely to be relatively stable if in the markets without the cost of new shocks.
The ruble, taking advantage of the weakening dollar and rise in oil prices, continues to strengthen, pushing the U.S. currency under the mark 66. and trading at the highs of August 26. However, the potential for further growth “Russians” seems limited in anticipation of tomorrow’s meeting of the Bank of Russia where the regulator with a high probability will reduce the rate by a quarter percent. Also to halt the further decline of the pair can expectations of strong employment report in the U.S., which will also be published at the end of the week.
____________________ Arseniy Dadashev,
Academy of management Finance and investment