Ilya Frolov of the PSB considers that the Russian stock market may open higher on stabilization in oil prices, and Timur Nigmatullin from “Finam” believes that rising prices of “black gold” definitely will support the ruble.
MOSCOW, 29 Oct. Elena Likova. The share market of the Russian Federation and the ruble at the opening of trading on Thursday grow on the stabilization of the price of oil brand Brent.
Support to the Russian market will have the appetite to risk at investors growth after the U.S. Federal reserve kept its base interest rate at the current level.
The Russian stock market may open weak growth of the MICEX index on the background of stabilization of oil prices around $ 49 per barrel, says Ilya Frolov from PSB.
The opening of the Russian share market on Thursday are expected to be 1725-1730 points on the MICEX index, which, most likely, will continue moving in this almost three weeks ago a trading range, says Oleg Steps from “solid”.
“As support for the MICEX index is the area located slightly below the psychological mark of 1700 points. Obstacle to the resumption of the upward trend in the MICEX index remains the resistance zone 1740-1750,” he adds.
Trading on the Russian stock market will open in positive territory, says Timur Nigmatullin of “Finam”. The MICEX index will be controlled as has risen in price oil and growth of investor risk appetite after the U.S. Federal reserve once again delayed the rise in interest rates. In the currency market the situation is not so clear, he explains.
The soaring “black gold” definitely will support the ruble, however, significant strengthening is unlikely, said the analyst. “The pressure will be due to how recent the end of the peak of the tax period and expectations of market participants on the Friday meeting of the Central Bank of the Russian Federation,” Nigmatullin adds.
“We expect the consolidation of the pair dollar-ruble in the range of 63.3-64.5 and. Despite rising prices for Brent crude to $ 49 per barrel after the publication of data on oil reserves from the U.S. Department of energy, the strengthening of the US dollar on the foreign exchange market is not yet about to let a couple go out to the range 60,8-63,3”, — says Sergey Kochergin of the company Exness.
Vladislav Antonov from Alpari forecasts on Thursday the drop in the dollar to 63,15 ruble, Euro — ruble up to 69,40.
Now the focus of traders has shifted to Friday, because then there will be a meeting of the Central Bank of the Russian Federation, many experts expect the Central Bank reducing the key rate by 0.25-0.5 per cent, he said. These expectations are the market worked Tuesday and Wednesday, rising for the dollar to 65,52 rubles, Euro — up to 72,40 of the ruble, he said.
“If tomorrow the rate will be reduced, we do not expect the weakening of the ruble. More expensive oil will support the national currency. If the Central Bank will not reduce its key interest rate, the exchange rate of the Russian currency will show a strengthening of the dollar and the Euro,” — says the analyst.
U.S. stock indexes on Wednesday gained more than 1% amid fed decision to maintain the base rate and hints at a possible increase in December.
Industrial index Dow Jones has grown on 1,13% — to 17779,52 point, high-tech NASDAQ added 1.3% to 5095,69 points, the index of wide market S&P 500 — on 1,18%, to 2090,35 item.
Stock futures US the morning has decreased on 0,31-0,45%. Asia stocks traded mixed: Japanese Nikkei 225 grows on 0,18%, Shanghai SSE Composite up 0.8%, Hong Kong Hang Seng decreases on 0,09%, the Singapore Straits Times index is 0.81%, the Australian S&P/ASX 200 — on 1,28%.
The price of oil hovers around $ 48,81 per barrel mark Brent (minus 0.73 per cent to the previous fixing). The Euro is 1,0937 1,0920 of the dollar against the dollar at the previous auction.
The results of the previous auctions on the Russian market
The Russian stock market on Wednesday closed higher by major indexes on the background of strengthening of the ruble against the dollar and the Euro, support from the rise in the price of oil brand Brent.
The MICEX index to closing has risen on 0,04% — to 1726,61 points, RTS index has grown on 1,84% — to 854,74 item.
The dollar calculations “tomorrow” on the basis of currency trading environment fell 0.95 ruble — to 63,95 ruble, Euro 1.81 ruble to ruble 69,82.