The Russian stock market will continue to grow thanks to rising oil prices and optimism in Asia

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On Tuesday the world’s major stock indexes rose after the recent correction. On this favorable background, has grown significantly and the Russian market. At the end of the day the ruble Mosberg index added 1.18 percent, the dollar index of RTS has grown stronger due to the strengthening of the ruble, 1.67%. Among leaders of growth – “Yandex” (+5,92%) and “Polymetal” (+4,72%). The Dow 30 increased by 2.17%.
In the morning of Wednesday the indices of the Asia-Pacific region together grew by 0.2% to 1.2%. Futures on the S&P 500 index was trading in the morning about 2816 points, 0.05% lower than the closing levels of the previous trading day.
Growing Asian markets and a recovery in oil prices set a favorable external background before opening the Russian stock market, which may continue to grow. Likely day the corridor index Mosberg is in the range of values 2395-2440 points, the RTS index is within the boundaries of 1155-1180 points. Publications statements of Russian issuers are expected today.
In addition to the stock market, on Tuesday significantly strengthened the ruble, returning to the levels of the beginning of the month. At the end of the day on Masuria, the dollar calculations “tomorrow” fell to 65,3075 RUB (-34,25 COP.), and the European currency declined to 75,6150 RUB (-38,5 COP.). Taking into account the recovery in oil prices, we expect to continue the upward trend of the ruble.
Current daily range for the dollar is 64,7-66,0 RUB, for the European currency — 74,9-76,4 RUB.
In the morning of Wednesday the cost of black gold, after rising to $81,6 per barrel back to $81,2 per barrel. Likely daily range for today’s trading, Brent crude oil is $80,3-$82,0 per barrel.
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Vadim Iosub,
Senior analyst,
Alpari