The Russian stock market: slight gains at the open

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In anticipation of the opening day’s trading session on the Moscow exchange, the external background for the Russian market looks quite positive. Among the major Asian indices it is worth noting an increase of 1.2%, Chinese CSI 300, Japan’s Nikkei 225 gaining 0.4%. Futures for the American S&P500, in turn, adds 1.2 per cent.
The indexes are recovered after a short but active sales during the two-day correction. It seems that the key driver of the fall – the American market is not yet ready for a deep correction. Apparently, this requires a slightly longer list of reasons than simple overbought stocks and the pessimistic expectations of the IMF about the prospects for global economic growth.
China trade balance for September totaled $31.7 billion, expected +to 19.4. This morning will be known potreblenia in Germany for September expected +2.3% y/y By 12:00 GMT will be released the industrial production in the Eurozone for August, expected is -0.2% yoy.
Futures for the basic grades of oil added between 1.3%. A barrel of Brent is $81,3, and the barrel Light — $71,8. After sales due to forecasts from the IMF on the global economy and EIA data on US reserves, the raw material is recovered in the price. The Iran factor is not yet fully played out and will maintain quotes at least until the beginning of August.
It is expected that the index Mosuri will start the day with moderate growth. At the end of yesterday’s evening session of the relevant futures added to the price of 0,34%. In the foreign exchange market does not exclude the strengthening of the ruble against the dollar following gains in oil prices.
Timur Nigmatullin,
“Opening Broker”