The Russian stock market was trading slightly weaker than foreign peers yesterday. A small profit taking took place in the market after the previous rise. However, the nature of the trades shows that there is no strong desire to sell the securities, the demand is still there.
Some fears are again inspired by the strengthening of sanctions rhetoric, this time from Europe. However, it seems to us that these risks can be ignored. Sanctions, even if they are, will not bring any damage to the economy and the largest issuers.
Sberbank collapsed unexpectedly and for no particular reason (-2.3%). Considering that Sberbank has now become a full-fledged dividend security, the bank’s shares can be carefully selected for the medium term.
Mosbirzh shares traded against the market, adding 1.7%. We have already noted that the paper ignored the growth of the beginning of the year, and now it is breaking through the side channel upward, trying to win back what was lost. The issuer’s growth promises to continue.
Oil stocks traded in a negative direction, which is rather strange given the record oil prices in recent months and the relatively weak ruble. Probably, traders began to include in the oil quotes the inevitable drop in oil prices, which is quite logical.
Meanwhile, although the growth of oil has slowed down, there is still no activation of sales. Today, “black gold” is trading with a slight decline relative to yesterday’s close, but a similar picture, a decline during Asian trading and further growth, in recent days, we often see. However, we are still waiting for a correction in oil.
Today, before our opening, the external background is positive: more than a third of the percent is added by American futures, industrial and precious metals are traded in the green zone, oil costs about $ 61 per barrel.
So we will open slightly higher, gold miners, Norilsk Nickel and ferrous metallurgists will look a little better than the market.
However, there is no particular desire to continue growth and go to storm the historical highs.
The ruble trades have been very volatile in recent days. It seems that sanctions risks have been removed, and expensive oil needs to be won back by growth, but large buyers of foreign currency are constantly appearing on the market.
Today, the ruble will rise again at the opening of trading. But ahead of the dollar-ruble pair there is strong support at 73, which needs good reason to break through.
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