US stocks continue to rise after an impressive close on Friday

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Market participants are, as usual, focused primarily on the price of oil. Russia is one of the recognized world leaders in the export, so stocks react to any news from this industry. April futures on Brent at the moment hovering near $62 a barrel on publication data from industrial statistics US Department of energy’s reserves and production of “black gold” and news from the Symposium of the International energy Agency and meetings of the countries of OPEC, which took place Wednesday in Riyadh.
The Saudis agreed with Russia on economic and political mutually beneficial contracts, but still aware of their interest (the deal hasn’t closed) to the projects of SIBUR and NOVATEK, and the total amount announced $3 billion..
In addition to investment (in the form of assets rather than cash) to us and Russia will invest in SA, also in the form of assets, i.e., trade relations with both parties to find a very lively response. The opening of the Russian stock market is expected today in the area of 2,240 points on the index of Masuri, in a favorable external background stock this indicator is able to continue to win back losses the previous week, but it will be technical rebound after the correction, i.e., weak upward motion.
Among events in the environment it is necessary to highlight the location of the Ministry of Finance of the Russian Federation at auction of two issues of OFZ in the amount of 44.3 bln rubles, demand for which has shown interest of non-residents and “carry traders” to ruble assets in anticipation of the expected positive rating action agencies S&P and Fitch in respect of Russia after their third colleague with the not very euphonious name.
The US stock market on Thursday will continue to rise after the collapse of the previous week.
Quotes of oil Brent (+0.2 per cent) on Tuesday broke a 7-day a series of reduction, demonstrating a technical rebound, but on Wednesday resumed its fall. Today, the oil will make another small digression from his rolling down and take a long position above the previous day. The Russian stock market today is also expected to increase, as the impact of news on oil and the expected improvement of positions in all international ratings agencies will be additionally supported by the beginning of the next tax period. The growth is not serious, but can be the beginning of a correction to new heights today.
Alexander Grigorenko,
Asset manager,
IR Global Capital