On Friday, the Russian stock market was able to continue recovery on a positive external background. The main support factor was again the situation in the energy market, where the nearest futures for Brent Oil Futures once again updated the maximums of the year, entrusted above 59 dollars per barrel. Also purchases in our promotions contributed to the dynamics of Western sites. And if in Europe in the evening the main indexes demonstrated a multidirectional dynamics, then in the United States after the first thirty minutes of trading DOW JONES and S & P500 tightened by 0.2%. On a background to 18.15 Moscow time, the Mosbier index added 0.3%, reaching the area of 3383 points. TGC-2, Systems and Gazpromneft (MCX: SIBN), which exceeded 2.5%, were the leaders of the auction. Worse than the market, the papers of Norilsk Nickel (-2.5%) were traded against the background of satisfying the claim of Rosprirodnadzor. They made a company MMK (MCX: MAGN) and a magnet (MCX: MGNT), which lost 3% and 1.9%, respectively. It should be noted that during the trading, the Mosbierry index made attempts to reach above 3,400 points, but a confident strengthening of the national currency kept the growth of the ruble value of shares. At the same time, within the framework of the next sessions, in the event of the preservation of positive external conditions, we expect the market consolidation above this mark.
On the currency section of the Moscow stock exchange, the ruble confidently strengthened to the main world currencies. So, by the end of the main session, the dollar fell by 1.2%, retreating into the area of 74.6 rubles, the euro decreased by 0.7%, trading in the region of 89.7 rubles. Note that in addition to the situation in the energy market, the support of the ruble also had the dynamics of leading currencies of developing countries, which also demonstrated confident growth during the auction. As a result, the dollar pair / ruble returned to the range of 73-75 rubles, from which came up on January 22. Given the situation in oil prices and a decrease in geopolitical tensions, we expect the consolidation of the American currency in this corridor. At the same time, in the event of further improvement of the external background, in particular the release of the nearest futures on the Brent oil futures above 60 dollars per barrel, the dollar can test support at 73 rubles.
Bogdan Zvarich, Chief Analyst PSB
Read Original Articles on: Investing.com