The Russian stock market today is trading alone
The index Mosberg with a slight increase of about 0.1-0.3%, near the 2565 p. as the nearest supports will again be levels 2550, 2540 p. Significant resistance level will remain 2570, 2580 p.
After a moderately positive start of trading the index Mosberg with high probability it will continue its consolidation yesterday. This will contribute to the minimum influence of the external background due to the fact that the key Western stock markets will be closed today.
In the second half of the day in USA will be publishing the March statistics on the change in the number of issued building permits and housing starts (15.30 GMT). Today, however, these will not have much impact on the local equity market and the private equity market in the United States.
Last Thursday, the main Russian stock indices Mosberg (-0.29%) and RTS (to 0.26%) ended with a slight decrease towards the levels of the previous closing. In the first minutes of trading they won back morning deterioration of an external background. The rest of the day, these indices have spent as unprincipled consolidation. This was facilitated by the ambiguous dynamics of oil futures, which have several times changed the direction of its movement.
We add that the results of yesterday medium-term technical picture of the indexes Mosberg and RTS has not changed. She remains positive. Meanwhile, the medium-term negative factor for the Russian stock and currency markets may well become a further tightening of the external sanctions regime against Russia.
Yesterday in the US published an edited version of the report, special Prosecutor Robert Mueller. She pointed out the lack of evidence of collusion of any American with the Russian authorities. However, the report argues that Russia was trying to influence the presidential election process in the United States in 2016. It is obvious that the results of the investigation appear to be contradictory. However, they create additional formal reason for the introduction of new restrictive measures by the US against Russia.
At the close of formal trading session, the June futures on the RTS index (RIM9) came to the state of backwardly size to 18 points, or 1.4% relative to the reference indicator. Thus, the futures market participants remain negative assessment of the medium-term prospects of the RTS index.
On the background of a slight fall in the index Mosberg held at the end of the day, the most liquid stocks ended with a mixed deviation in the range of 1-3% relative to the levels of the previous close.
The most notable movement among the blue chips was the rapid decline of Gazprom (GAZP RM, -1.35%). Yesterday they were adjusted down after the recent unsuccessful attempt of breakdown of a six-month resistance level located in area 165-167 RUB On the daily chart of these securities can be formed a technical figure “double top”. In the case of the implementation of the action “Gazprom” is able to return to the 150-155 range RUB However, this is only one of possible variants of development of events.
Additional information the reason for yesterday’s sales in these papers was a report that a member of the Board of Directors Andrei Akimov completely sold belonging to him the shares of “Gazprom”. The amount of the transaction amounted to 686 million rubles. These securities were purchased only a few days and sold at a more attractive price.
Noticeably weaker market also closed paper Sberbank-AP (SBERP RM, -1.23%), clA Yandex (YNDX RM, -2.77%), Detsky Mir (DSKY RM, -1.03%), ENPL-GDR (ENPL RM, -1.63%), iQIWI (QIWI RM, -2.36%).
Paper FIVE-GDR (FIVE RM, +2.31%) continued the trend on Wednesday, the growth is in high gear. The impetus for this was the publication of the preliminary consolidated operating results of the trading network for the 1st quarter of 2019. They were generally positive in nature. However, it is worth noting a significant quarterly slowdown in the growth of the trade area X5 Retail Group to 46.8% and the number of open new stores by 40%. This is the current budget of the company. However, net quarterly retail revenue of the retailer increased by 15.3% excluding VAT in comparison with the 1st quarter of 2018.
Continuing the conversation about retailers, it is also worth noting yesterday’s message of Group “M. Video-Eldorado” (MVID RM, +0.51%) of the increased net sales in the first quarter of 2019 11.7% excluding VAT, compared to the same period last year. While quarterly sales of comparable stores (LFL) for the Group increased by 2.2%. As we can see, the retail network “M. Video” and “Eldorado” have successfully completed the process of integration into a single company with a common legal entity.
Shares of Polymetal (POLY RM, +1.07%) showed rather weak until the rebound from a recent four-month low. They were supported by the news that the Issuer has increased its production in Q1 by 27% to 374 thousand ounces in gold equivalent.
Today, the vast majority of foreign stock markets will be closed due to the fact that in many countries around the world celebrated good Friday. In this regard, the local stock market will be insulated from the influence of the external background. And yet evening moderate growth in the value of futures on indexes of RTS and Mosberg creates the conditions for a positive start of trading in Russia.
Senior risk Manager,
IR “Algo Capital”