Start of the day. The Russian market continues to grow thanks to oil

  • MOEX Index: 3317.33 (+ 0.5%)
  • RTS Index: 1405.8 (+ 1.3%)

Russian indices are growing at the opening due to strong dynamics in the hydrocarbon market. The RTS index is adding more than 1% due to the strengthening of the ruble. In the morning, the dollar lost 0.6% against the ruble, with USD / RUB hitting 73.6 per dollar.

The compromise reached between the Russian Federation and Saudi Arabia, in fact, the postponement of the reduction of production restrictions until the end of March made it possible to smooth out the negative from new lockdowns in Europe. However, the negative dynamics of Asian and European stock exchanges still limits the positive in Russian stocks.

Oil at the opening of the Russian market adds 0.7%. The Russian oil and gas sector is among the growth leaders. Today the sectoral index is topped by shares of Bashneft obychka (+ 3.6%) and preferred shares (+ 1.7%). Rosneft and Tatneft added up to 0.5%. The shares of Gazprom are also in positive territory due to the strong dynamics of gas prices in Europe.

The consumer sector looks good at the opening, with the exception of Magnit shares. The retailer’s shares are down 3% on the back of a dividend cut. For 9 months. 2020 the company will pay 245 rubles. dividends. Rusagro shares are up 1.9%.

Shares in the index heavyweight Sberbank are now correcting 0.4% from the start of trading, mainly due to the influence of external stock markets and the cautious behavior of global investors in risky assets.

Today, the US Congress can officially declare the victory of Joe Biden, who in turn promises another package of stimuli in case Democrats control the upper house of Parliament. It is expected that in the coming days, the results of the Senate elections from the state of Georgia may become known, which may change the status quo in parliament. These political drivers can have a noticeable impact on global investor sentiment.

Leaders: YuUNK (+ 7%), Rusolovo (+ 3%), Bashneft (+ 3.6%), En + (+ 2.6%)

Outsiders: Magnit (-3%), HeadHunter (-1.6%), Rostelecom up (-1.3%), Yandex (-1%)

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