The Russian stock market strengthened, with the support of U.S. equities
The Russian stock market ended trading Thursday in positive territory, supported by high crude oil prices and some easing of tensions on global financial markets. Support to the Russian stock market has also had a positive dynamics of the major stock indexes in the U.S., which was kept in the positive territory despite the release of revised downward final GDP data for the 1st quarter.
The leaders among the raise in the price of securities at the end of trading were shares of companies in machine-building (+0,87%), petrochemical (+0,48%) and financial (+0,29%) sectors.
MICEX index by the end of trading in Russia grew by 0.09% and closed at 2255.66 points. The RTS index also rose by 0.31% and stopped at 1128.30 points in the Wake of the appreciation of the ruble against the U.S. dollar and the Euro.
The price of crude oil by the end of trading in the Russian Federation traded mixed amid disagreements between the U.S. and China. The price of oil Brent by the end of trading in Russia has decreased on 0,31%, to 77,22 per barrel. WTI has grown on 0,67%, to $ 73.25 per barrel.
In the currency market, the ruble has gained support in the Wake of high prices and demand for OFZ bonds, the Ministry of Finance, although in General it traded in a fairly narrow range against the dollar and the Euro. The USD/ruble with tomorrow calculation at the end of the trading session fell by 0.35% to 62,98 rubles per dollar. The Euro/ruble with tomorrow calculation has decreased on 0,28% to 72.90 rubles per Euro.
The ruble, on the one hand, puts pressure on the demand for ruble assets, and on the other, it is supported by high prices for crude oil and moderately tight monetary policy of the Central Bank of the Russian Federation.
The events of the day:
On Friday, investors ‘ attention will be drawn to employment data in Germany,consumer inflation in the Euro area and UK GDP and Canada. Also contains values for the packet statistics of the United States from the University of Michigan.
Head of analytical Department,