The Russian stock market is winning back the outer film

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The Russian indices started trading environment in negative territory, showing a fairly deep drawdown, reflecting the sharp deterioration of the external environment against the backdrop of escalating trade war between the US and China. America has published a list of goods from China in the amount of $ 200 billion, which will be subject to an additional 10% duty. Now investors are waiting for tense mirror Beijing. Before noon, the index Mosberg reduced by 1.14 percent, RTS loses nearly 1.5%. The ruble is trading slightly higher after yesterday’s rally, as Brent crude oil fell under the mark of 78 and 77 is approaching.
Shares in NOVATEK rose in price by 0.5% after reporting that in the first half, the company increased hydrocarbon production by 2.4%. According to preliminary estimates, the volume of gas sales, including LNG, increased by almost 7% compared to the results of the first half of 2017. It also became known that on July 19 NOVATEK will deliver its first cargo of LNG to China in accordance with China’s long-term contracts.
Paper ALROSA traded down 1% on reports of an explosion at a mine company in the Mirny district of Yakutia. It is known that the mine is flooded almost completely, and its recovery is in question. This negativity hinders yesterday’s report, which showed that in June, ALROSA has increased diamond sales by 8.3% in annual terms. While polished diamond sales in monetary terms decreased by 37.7%.
To the extent that, as global investors digest a new round of trade conflict, the mood in global markets may improve. In this case, the pressure on the domestic market weakened. However, until then, until the oil will not resume growth does not compensate for the recent losses, the chances of a full return of buyers to the Russian market will be low. Some support for domestic assets can get in anticipation of the meeting, trump and Putin.
Igor Kovalyov,
InstaForex companies group