The Russian stock market was encouraged by the increase in stock in China
Expect a minor recovery of the Russian market at the opening of trading on the background of growth of 0.2-4.8%, futures on global stock indices, in particular, the December futures on the MSCI EM index rising 1.6%. The main driver of the movement is the growth of Chinese stock indices by 4.8-5.3 percent due to the financial statement of the Chinese authorities that the country’s economy will be supported due to investor concerns over its slowing.
At the same time, European investors expected a larger reduction in the credit rating of Italy, but Moody’s downgraded it by one notch to “Baa2” to “Baa3” on the last investment stage due to the expansion of the budget deficit.
Now, European investors expect rating actions on Italy from the Agency S&P on 26 October, on a scale which the credit rating “BBB”, ie the penultimate stage of the investment. Therefore, European investors recoup these actions through purchases on the stock markets of Europe, and the yield of the Italian husbando reduced by 40 b.p. to 3.33%. Significant macrostatistics in the USA will not be in Monday, so we do not expect strong movements from the pair dollar/ruble