The Russian stock market was under a wave of sales, risk the fall of the ruble has increased

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The Russian stock market on Wednesday came under a wave of sales. Index Mosberg again dipped under the mark of 2300 points, but below has not yet gone. The market expects that external negativity will not last long. Otherwise the ruble indicator a large range of supports: the first is at the level of 2275 points 2250, and under it 2210 points. The RTS index recedes to the lower limit of the medium-term range 1250-1300 points but still retains the chances of stabilization at about 1260 points.
Shares of M. Video (+3.6 percent) rise in price the second day in a row in a technical rebound from a two-month low. For conservation of momentum paper need to gain a foothold above 425 RUB. from there, open the way to 450 RUB.
Among the “blue chips” today is relatively quiet feel of a paper “Severstal” (+1,6%), in the list of stock indices down heavyweights drove stocks “Gazprom”, “Norilsk Nickel” and “Sberbank”. The banking sector is getting nervous because of the likelihood of foreign policy scandal with the British. The probability of financial complications, while not the highest, but it is.
The ruble was supported by the MinFin auction for OFZ placement, but because the Agency did not overload the investors with the offer of debt, the burst of optimism didn’t happen. The dollar continues to hang out in the known range 56,50-57,25 RUB, and until the consolidation above the upper boundary, no change of trend is not going to happen. On the world currency market the U.S. dollar is trying to go to an active strengthening, but so far all very vague. Greater impact on the ruble is now able to provide the complication of Russian-British relations.
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Anna Bodrova,
Senior analyst,
Alpari