The Russian stock market is trading moderately positive

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The Russian stock market is trading moderately positive attitude on the last day of the trading week. On the one hand, the support provides a good external background, while cheaper oil is limiting the growth potential. Afternoon index Mosberg increases in the range of 0.5% and the RTS is trading slightly above the opening level. The rouble is retreating slightly in tandem with the dollar and Brent crude is heading to lows around 73.
In the oil and gas sector observed mixed dynamics. Shares of “Rosneft” after yesterday’s impressive subsidence can not draw the demand and lose of 0.36 percent. Quotes “Gazprom” trying to get an advantage, settling near the levels of the start of the session. LUKOIL, meanwhile, is growing by 1.45%. The company raised the issue of convening an extraordinary meeting of shareholders, which will be decided at a meeting of the Board of Directors on July 19. At the extraordinary meeting of shareholders is expected to adopt a decision on repayment of Treasury shares of the company. According to preliminary data, LUKOIL can repay up to 10% Treasury shares until the end of the year.
Papers NLMK increase in the range of 0.4% after reporting. The group increased metal production in the second quarter of 2018 at 6% yoy and 1% QoQ, the number on the background of increasing steel demand in the main markets. Capacity utilization in the second quarter grew 1% to 99%.
From the fall of the Russian market protects investors ‘ optimism, which are switched at the upcoming meeting trump and Putin, which will take place on 16 July in Helsinki. Players hope for a warming of relations between the two leaders, however, to risk before the risk event and the onset of the weekend I do not want. End of day trading in the domestic market are likely to remain inactive in expectation of important negotiations.
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Igor Kovalyov,
Analyst
InstaForex companies group