The Russian stock market: spoil the picture of the sanctions and oil

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On the last day of the trading week, trading on the Russian stock market are in negative format. Investors holding back the threat of new sanctions from the United States, which may be extended to investments in debt securities and energy projects in Russia. However, no panic on Russian markets not observed – a simple caution after the next threats. So, the afternoon after the index Mosberg and RTS decrease by 0.2% and 0.3% respectively. And the ruble is stabilized after yesterday’s sales, and even trying to recover, although unconvincing.
On the rhetoric of Washington well reduced shares of Sberbank, which is cheaper by more than 1.5%. Paper NOVATEK, which in the beginning of the session suffered losses of more than 0.5%, not only has won back losses, but has entered the area of growth, rising in price by 0.6%. In the June review of the FTSE4Good index, FTSE research Agency Russell confirmed that NOVATEK remains part of the index, which measures the activities of companies in the field of ecology, social responsibility and corporate governance.
“Rostelecom” has published mixed results for the second quarter. The company’s revenue under IFRS grew by 2.9%. Net profit rose 9.5%, OIBDA fell 3.8%, while CAPEX increased in the reporting period by 16%. The total number of subscribers of Internet access increased by 2% in annual terms. For the first half of 2018, the revenue of “Rostelecom” rose by 5.5%.
Increased sanctions risks definitely not add to the attractiveness of Russian assets, however, investors respond with restraint, including the reason that soon the U.S. Congress goes on summer break, and hence no concrete decision on the issue of expansion of sanctions in the near future will not be accepted. Another factor holding back buyers – the situation in the oil market, where quotations are not difficult to build momentum after a partial recovery. However, if sales in the raw materials segment in the short term are not renewed, this will be enough for the Russian market refrained from a deeper drawdown.
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Igor Kovalyov,
Analyst
InstaForex companies group