Russian stocks rise in price amid rising oil

  • MOEX Index: 3362.62 (+ 0.57%)
  • RTS Index: 1394.21 (+ 0.52%)

Russian indices are growing at the opening of trading on Thursday. Yesterday, the Moscow Exchange index interrupted the recovery of the last days after the correction of the second half of January. At the same time, rising oil prices provoke purchases.

Brent quotes run slightly below $ 59 per barrel, adding 0.7% in the morning. The positive dynamics were supported by improved market forecasts for 2021 and increased confidence in the effectiveness of the OPEC + mechanism for balancing the market.

Futures on the S&P 500 shows zero dynamics, while the index itself has recovered in recent days to almost record levels. New cases of COVID-19 in the United States are falling for a third straight week, the first time since September last year, adding to the optimism.

On the Russian market shares of Pharmsynthez (+ 4%) are leading, coal producers – Raspadskaya (+ 2%), Mechel-jsc (+ 1%). The rollback takes place in Rusolovo (-4%) after the rally of the previous two days. Gold miners are also outsiders: Seligdar-JSC (-2%), Polymetal (-0.8%). The shares of Severstal and Magnit, which reported in these minutes, are growing in price by 0.9% and 1.1%, respectively.

Among the heavyweights, Sberbank (+ 0.4%) and LUKOIL (+ 0.1%) are getting more expensive, Gazprom is getting cheaper by 0.05%.

The USD / RUB pair is down 0.16% to 75.8.

Index of government bonds RGBI shows a rebound from multi-month lows by 0.06%.

Today, market participants await Biden’s speech with an overview of the foreign policy vision, which was postponed from the beginning of the week. Also, data on retail sales in the euro area will be released, a meeting of the Bank of England will be held.

Leaders: Pharmsynthez (+ 4%), Raspadskaya (+ 2%), Magnit (+ 1.1%), Mechel-JSC (+ 1%), Severstal (+ 0.9%).

Outsiders: Rusolovo (-4%), Seligdar-JSC (-2%), Rusal (-1.5%), Polymetal (-0.8%).

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