The Russian stock market recovered from British threats
After yesterday’s collapse, during which the RTS lost 2.5%, the domestic stock markets recoup losses. The strength of the recovery looks modest against the backdrop of further escalation of the diplomatic conflict between Russia and Britain, which is preparing a series of sanctions against Moscow. Afternoon Mosberg index increased by 0.22% to 2280 points. RTS adjusted upwards to 0.8%. The ruble also clears after a slight weakening yesterday. Brent trampled in the flat, not daring again to attempt to level 65, which this week became the stumbling block for the bulls.
News from London rocked a number of Russian companies during yesterday’s trading session. Most of today coming to. Shares of Sberbank, which on Wednesday fell by 4%, are traded with an increase of 0.3% and is not yet able to develop a more tangible recovery. Quotes “Gazprom” to ignore the threat of London, which announced the intention to cease buying gas from Russian corporations and gain of 0.5 percent. Better the market look like paper Uralkali, which rose in price by 3%. Yesterday the company reported its results, which showed that in 2017 net profit decreased 1.6 times.
A large-scale drawdown demonstrate the action of “MegaFon”, losing about 8% in response to the decision of the Board of Directors of the company not to pay dividends in 2018. Such decision the head of the Board of Directors explained the priority in crawling reinvestment of the profit of the operator in the development of the company, whereas the payment of dividends is contrary to the strategic goals of the company.
Despite the local rebound, the Russian market remains vulnerable, and sales can resume at any time, if in London again remind myself through the hard statements or the announcement of “punitive measures”. To kill the beginnings of recovery and capable of reciprocal gestures from Moscow, which will serve as a signal for the escalation of this diplomatic conflict, the potential extent of which it is difficult to assess.
InstaForex companies group