The Russian stock market seems immune to external negativity

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Despite the fact that investors are already accustomed to the fact that Washington and Beijing from time to time exchange rates, markets, definitely before the end of the debate in the U.S. the new portion of the fees. By tradition, China today warned that it will be forced to respond in kind, if the States put another barrier between the two countries.
It is not surprising that in this environment investors are reluctant to risk and prefer to minimize risks pending the decision of America. In Asia, most equity indexes slipped, although the pressure on the Chinese site weakened. Europe opened in negative territory, where the leader of the fall was the Spanish IBEX, which is losing 0.5 percent.
But the Russian market remains immune to yesterday’s aggressive statements of the British Prime Minister may, which insists on imposing new sanctions against Russia in connection with the case Skrobala. In early deals on Thursday, the domestic indices settled in the positive territory, although caution is also traced, and therefore, the potential for more significant growth is limited, including because of the threat of escalation of trade wars.
Oil prices traded flat to slightly above level 77, which serves as the nearest support level. After yesterday’s pullback in Brent has stabilized and is trying to decide on a further motion vector in the eve of the official report of the energy reserves. The main risk for the stock for today – the announcement of new fees for China, since this step by the US will provoke not only an escape from risks, but rising concern about oil demand.
Nathan Lambert
Head of research,
Global FX