The Russian stock market opened higher
At the opening on Thursday the Russian stock index went into growth, reflecting easing pressure on oil prices after a short fall. Also improving sentiment contributes to a good external background, where after the rise in Asia, the baton was intercepted by European courts with an eye to the rebound of indexes on wall street yesterday. Some comfort to investors brought by Chinese trade figures, where exports rose more than forecasts, while imports fell not as much as expected. So, at the beginning of the session, the index and the RTS added Mosuri of 1.03% and 1.72%, respectively.
Meanwhile, the pair dollar/ruble, which yesterday in a moment touched the high of 65.62 RUB and closed near the higher end of the range amid the collapse in oil prices, now back under the 200-day moving average, having opened with the gap down at the key mark of 65 rubles. the ruble desperately resists the pressure of the dollar, but the range for the pair has gradually shifted higher and higher, and downside risks to our currency stronger, especially against the background of sales in commodity segment.
Locally, the market situation has improved, but overall nothing has changed – the trade tensions between the US and China remains high, chances for the deal plummeted, fears about a global recession intensified and the oil goes into the lower ranges. Thus, investors will continue to keep your finger on the pulse and it is unlikely in such circumstances will go to the sustainable purchases of at least in the near future.
Academy of management Finance and investment