The stock market returned to growth after yesterday’s decline

  • MOEX Index: 3891.45 (+ 0.18%)
  • RTS Index: 1651.8 (+ 0.41%)

Russian indices are growing at the opening of trading on Wednesday after yesterday’s decline from the highs reached. On Tuesday, the Moscow Exchange index updated record levels, followed by a fixation and the index rolled back, closing the day with a modest 0.04% growth.

Sales were provoked by a sharp pullback in oil prices, which fell 3.4% to $ 74.5. At the beginning of the week, OPEC + failed to agree on further actions. Formally, the OPEC + countries must adhere to the previous quotas, but uncertainty provokes a reduction in oil traders’ positions.

Already today, oil is growing by 0.8%, returning to the level of $ 75 per barrel of Brent. Crude oil holds above 5500.

Metal prices also dropped yesterday, and in the morning there is also a rebound.

The dollar, in turn, rose naturally yesterday with the fall in prices for commodity assets. At the same time, the published data on business activity in the US services sector turned out to be worse than expected.

Today, the pair USD / RUB is trading at 74.11 (-0.41%).

Representatives of the oil and gas sector look better than the market among heavy securities: Gazprom (+ 0.8%), LUKOIL (+ 0.9%). Note that the quotes of Gazprom shares are holding at multi-year highs and remain slightly above 1% to the round mark at 300.

Sberbank is growing 0.4% after the publication of its June RAS report.

MTS shares were cleared of dividends (-6.7%). Today, many securities are traded with dividends on the last day: Detsky Mir, Evropeyskaya Elektrotekhnika, RusHydro, Samolet, Tatneft, Khimprom, RusAqua.

Leaders: Mother and Child (+ 3.8%), TCS (+ 1.5%), TMK (+ 1.3%), ALROSA (+ 1.3%)

Outsiders: MTS (-6.7%), M.Video (-0.8%), RusHydro (-0.5%), Detsky Mir (-0.3%)

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