The Russian stock market: the Shares of the Magnet has fallen by 5%

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On Friday the Russian stock indexes traded in the moderate rise on a favorable external background and in the conditions of positive dynamics of oil prices, which continued to rebound after the recent massive fall. Afternoon index Mosberg increases in the range of 0.5% and RTS is increasing by 0.88%. The ruble opened a good gap up and has not yet closed the morning gap that supports the dollar index. Brent is making new attempts to test mark of 65.
In the segment of the most liquid securities dominate the purchase, but the drawdown in individual stock looks very impressive. In unconditional leaders of falling today quotes “Magnet”, which are getting cheaper almost by 5%, reacting to unexpected news that the founder and owner of retail chain Sergey Galitsky decided to sell VTB Bank of 29.1% stake in the company, citing the fact that “investors do not exactly see the future, as the founder”. VTB’s shares, meanwhile, are rising almost 0.7%.
In addition to the “Magnet” under the impressive pressure traded securities of “Norilsk Nickel” and “Revival”, where the average loss is 2.5%. The reason of sales of shares of MMC – speculation about the conflict between the shareholders. The oil and gas sector is quite confident in where active in other expensive shares of LUKOIL and Tatneft, growing by 1.6% in each case.
This week was marked by a stabilization of world venues and return interest to risk that supported the resumption of growth in the Russian market. Now the main question – whether investors are to build on the success and not to succumb to the new panic. While on the horizon the near-term prerequisites for the deterioration in sentiment is not marked. Until the end of the day, the domestic indices can retain the fighting spirit, however, is unlikely to a significant acceleration of the rise from current levels due to signs of slowing upside momentum in the oil market.
Igor Kovalyov,
InstaForex companies group