The stock market is winning back the fall in oil prices

  • MOEX Index: 3470.08 (-0.99%)
  • RTS Index: 1473.51 (-1.02%)

Russian indices are declining at the opening of Friday trading. The Moscow Exchange index went down with a gap, reacting to the failure of oil quotes in the evening trading on Thursday.

Oil prices fell by almost 7% and are now trading below $ 63 a barrel amid a worsening epidemiological situation in Europe. A number of countries are renewing restrictions. General sentiment about risky assets has worsened.

Sellers dominated Wall Street yesterday. The Fed meeting last week did not bring new support measures with the growing government bond yields, which exceeded 1.7% over 10 years.

The Bank of Russia will hold its meeting today. His decision does not seem so obvious in terms of maintaining the key rate, which is indicated by the consensus, taking into account the Fed’s decision. The central banks of Turkey and Brazil raised rates this week more than expected.

Liquid securities traded in the evening session won back the oil dip yesterday, and today we see a technical rebound. Sberbank shares rise in price by 0.3%, Gazprom adds 0.1%, LUKOIL – 0.15%.

In low-liquid securities, speculative activity remains in shares of Krasny Oktyabr-JSC (+ 11%), Levenguk (-6%), Rusgrain (-6%), Beluga (-4%).

The USD / RUB rate is reduced by 0.12%, to 74.2. The government bond index RGBI (-0.24%) makes a new leap downward, updating lows since March 2020.

Leaders: Krasny Oktyabr-ao (+ 11%), Krasny Oktyabr-up (+ 6%), Rusal (+ 1.7%), Ozon (+ 1.7%), X5 Retail (+ 1.5%)

Outsiders: Levenguk (-6%), Rusgrain (-6%), Beluga (-4%), Bashneft-jsc (-1.4%), Gazprom Neft (-1.1%)

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