The Russian stock market recovers after sharp fall

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The Russian stock market on Tuesday started trading with recovery. To date, the leading stock indexes grow on average by 0.7%. A list of the morning leaders demand lead paper “Mechel” and “OVK”. Among the outsiders draw attention to themselves shares of the gold mining company “pole” and “Tape”.
The external environment for today’s session formed mixed. U.S. markets ended the previous trading notable rise, the futures contract on the S&P backs off slightly premarket.
Oil prices this morning are down, but sentiment is assessed as uncertain. A barrel of Brent traded at $60,19 (down 0.6%). Today will be published the latest data on oil reserves and petroleum products, and if this side pressure will increase, the cost of raw materials will accelerate the decline.
The pair Euro/dollar in the morning on Tuesday stabilized at 1.1340 for, but so far investors have not really decided on plans for the day. News flow is calm, the emotions after the comments of ECB President Mario Draghi on the weaker statistics than expected for the Eurozone, have subsided. Today in the calendar of many American reports, and now the dollar could fall under their influence.
Russian ruble in the first hour of trading today played part of the lost in a basket of currencies. Initial emotions after the Kerch incident subsided, the market saw that nothing painful is not threatened, and began to level off. The US dollar is 66,85 RUB (-0.4 per cent). The pair dollar/ruble will hold the next trading day within the values 66,50-67,20 RUB, EUR/RUB within the range of 75,50-of 76.00 RUB
Index Mosberg set up today’s recovery in the region of 2330 points and subsequent consolidation within 2320-2335 points.
“Rosneft” and the Saint-Petersburg international Mercantile exchange (SPIMEX) will take measures to combat speculators, which lead to unfair trade practices in the market. In particular, the exchange intends to increase the level of the margin and to increase the penalty for failure of transactions, and also set a higher fee for a purchase requisition, which has not been contracted. Is debating the introduction of fines for termination of the exchange agreement by agreement of the parties.
The above measures will help to avoid unnecessary speculation on the fuel market and drive unscrupulous players that provoke the growth of prices for gasoline and other refined products. Producers will be protected from the false commitments of delivery of the goods, their confidence in the stock exchange will increase. In addition, “Rosneft” and SPIMEX came to the conclusion that the share of food processing company in the auction should be proportional to the prey. In our opinion, this is a controversial statement.
On the one hand, it is logical that the major manufacturers must have priority on the exchange and to have the opportunity to offer more to the buyer. On the other hand, to restrict small producers is incorrect, especially if the exchange is their main trading platform.
Among the corporate events of the day is to provide financial statements under IFRS for the third quarter of 2018, the Bank “St.-Petersburg” and “Mechel”. The register of shareholders for participation in EGSM close “TransContainer”, the Bank “Revival” and “NCSP”. A meeting of the Board of Directors will hold “LUKOIL”.
The U.S. will release the consumer confidence index. The financial stability report will present the Reserve Bank of New Zealand.
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Alexander Razuvayev,
The Director of analytical Department,
Alpari