The Russian stock market started the week ugly dynamics
At the beginning of the new trading week the Russian stock indices nondescript dynamics, experiencing the deficit of momentum in the absence of external signals where the Chinese sites continue to celebrate the New year according to the lunar calendar, and US exchanges traded today in full force in connection with presidents ‘ Day. Brent after this morning’s attempts to rise back to their original positions, and the ruble is slightly inferior to the dollar and the Euro. Index Mobimii is trading slightly below their opening levels and the RTS lose within 0.5%.
In the segment of “blue chips” are also prevailing minor mood. The oil and gas sector is trading mostly in the red, as shares of the financial sector. Look worse than the market quotations of Bank Vozrozhdenie, losing of 2.69%, papers of LUKOIL cheaper by 0.8%. Shares in NOVATEK decrease by 0.6 percent, despite reports that the company has won the auction of ALROSA for the sale of “Geotransgaz” and “Urengoy gas company”.
Also NOVATEK has signed a Memorandum of understanding with the national oil company of Saudi Arabia Saudi Aramco, which establishes the agreement of the parties on the development of international cooperation and implementation of joint investments in the gas sector, including the delivery and development of LNG markets, joint participation in LNG projects as well as projects in the field of exploration and extraction of shale gas.
Given the low activity on external sites and signs of fading bullish momentum in the oil market until the end of the session the Russian indices are unlikely to show a noticeable improvement in the dynamics, although if Brent back above the level 65, conditions will be created to minimize intraday losses. In the short term, the index Mosberg need to defend the level of 2250 points to pass the deeper pullback.
InstaForex companies group