Stock market sales continue today

  • MOEX Index: 3465.56 (-0.81%)
  • RTS Index: 1407.9 (-1.33%)

Russian indices are falling at the opening of trading on Wednesday. The Moscow Exchange index is updating its 1.5-week lows. The external background is relatively good, and nevertheless the market is going down, apparently in response to the growing tension around the events in Ukraine. There are also some negative stories. The ruble is getting cheaper.

Heavy shares of Sberbank, Gazprom, LUKOIL lose 0.6-0.8%. The former leaders – steelmakers’ securities – became outsiders: NLMK (-2%), Severstal (-2%), MMK (-1.9%). The business media again started talking about the authorities’ search for ways to transfer super profits from the rise in metal prices to the budget.

BSPB shares are down 2.6% after yesterday’s 6% rally in the absence of corporate news.

Oil prices in the morning are growing by 0.5%, exceeding $ 63 per barrel of Brent. S&P 500 futures remain in the region of all-time highs.

The ruble continues to look weak: the EUR / RUB pair for the first time since January rose above 92, the USD / RUB pair rose to 77.5 (+ 0.3%). The RGBI government bond index is down 0.3%. The Ministry of Finance will find it difficult today to successfully conduct the planned auctions for the sale of OFZs in such a conjuncture.

Leaders: PhosAgro (+ 1%), M.Video (+ 0.9%), Raspadskaya (+ 0.9%), En + (+ 0.8%).

Outsiders: HeadHunter (-2.7%), BSPB (-2.6%), NLMK (-2%), Severstal (-2%), MMK (-1.9%).

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