The Russian stock market on Monday started without ideas

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The Russian stock market on Monday started mostly lower. To date, the leading stock indexes will come out and grow on average by 0.3%. By the end of the rebound were shares of “Tape” and “Mechel”. In the negative zone held the paper “M. Video” and “Akron”.
The external background to today’s trading was moderately negative. American markets ended Friday’s session of the new wave of sales, index futures S&P premarket retreats. The price of oil returned to decline after a pretty quiet morning.
A barrel of Brent traded at $77,11(-0,7%). Friday’s statistics from Baker Hughes showed that the number of drilling rigs in the United States rose for the week by 1 unit and built in 1068 pieces. Data were quite neutral.
The pair Euro/dollar on Monday morning stable. Basic trades in the first half of the day going around 1,1410. Friday statistics on the US GDP already included in the price, and the market shifts the focus to a large block planned for the new week of data. Investors, in addition, monitor the actions of China and the monetary behavior of the yuan.
Russian ruble became cheaper slightly against foreign currencies in the first hour of the session. The greenback was trading at 65,79 RUB (+0,11%). Today’s session will be held for the pair dollar/ruble in the corridor 65,60-66,25 RUB, EUR/RUB within the range of 74,80-75,45 RUB.
The US President Donald trump, speaking in Illinois, said that Russia is “happy about his policy, he did a good job” and now Moscow is allegedly eager to obtain economic assistance from Washington. Probably, the current President confused with Vladimir Putin, Mikhail Gorbachev or Boris Yeltsin. Under Gorbachev, Russia was begging for humanitarian assistance, and under Yeltsin – IMF loans.
Now Russia is not dependent on external creditors, the international reserves are about $460 billion, which is approximately equal to gross external debt. The shelves are filled, and a weak ruble and contractee turned to import substitution. Moscow regularly writes off the loans or refinance them with his allies. Against the background of China and the European Union foreign trade turnover of Russia with the US looks very modest.
In General, Donald trump once again said something strange, not related to economic reality. However, you’re all used to.
Index Mosberg protorguetsya Monday within the boundaries of 2270-2305 points.
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Alexander Razuvayev,
The Director of analytical Department,
Alpari