The stock market is growing after the “soft” US sanctions

  • MOEX Index: 3570.5 (+ 0.06%)
  • RTS Index: 1486.91 (+ 0.82%)

The Russian market is growing at the opening of trading on Friday: the ruble is getting more expensive, the government bond index is updating its weekly highs.

Market participants were encouraged by the announced sanctions from the United States, which turned out to be less harsh than one might expect. They did not touch the secondary OFZ market – and Russian assets are responding with growth, expecting that the measures taken will postpone further tightening for an indefinite period.

The USD / RUB pair has already dropped below the levels that preceded the news of the sanctions. The pair is at 75.5.

At the same time, the external background remains good. Oil prices have risen above $ 67 per barrel, oil in rubles is above 5,000.

Heavy shares of Sberbank, Gazprom, LUKOIL are growing within 0.2-0.4%.

Shares of Raspadskaya (+ 4%) are in the lead on the news that EVRAZ’s board of directors is considering the spin-off of Raspadskaya.

Rusal shares (-0.9%) are correcting in the wake of aluminum prices, retreating from the highs.

Steelworkers’ shares are growing on the back of the continued positive pricing environment for their products. Severstal added 0.9% after reporting.

Leaders: Raspadskaya (+ 4%), En + (+ 2%), BSP (+ 1.3%), Mechel-up (+ 1.3%), NLMK (+ 1.1%).

Outsiders: Ozon (-1%), PhosAgro (-1%), Rusal (-0.9%), Polymetal (-0.8%).

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