The MICEX index jumped to the highest level since March 5, RTS grew by 4.25%

MOSCOW, November 17. Russian stock indices this afternoon in the course of trading on the Moscow stock exchange is growing rapidly: the MICEX index (MICEX) gained 2.7% to 1786,75 points – their highest level since 5 March this year, and RTS have soared 4.25% to 859,19 item.

On Monday Russian stocks rose after 6 days of decline in a row. Since the beginning of the week the MICEX grew by 2.8%, and RTS Р4.9%. The price of Brent is not impressive similar positive dynamics. So, during yesterdayís trading session the price of a barrel of Brent crude oil tested the $43, but in the evening got back above $44/bbl.

On Tuesday, the price of the futures contract on Brent crude oil with delivery in January 2016 on London exchange ICE rose by 0.07% to $44,59 per barrel.

“The new week began with the continuation of sales on the market of black gold. Quotations of North sea grade Brent in the moment sank in the area a new local minimum is about $43 per barrel. Nevertheless, towards evening, all the losses were redeemed. On charts has formed a bullish divergence, which usually anticipate the correction movement to the top,” predicts analyst “BKS the Express train” Vasiliy Karpunin.

By the end of the week the MICEX index may update eight-month highs, if in the Russian stock market will continue the current mood, adds Promsvyazbank analyst Ilya Frolov.

“Investors are quite positive about the Russian country risk, resulting in a mismatch between current levels of the indices and the absolute values of the ruble at current oil – they are higher than the estimated 3-5%. All this, in our opinion, is a reflection of two main factors: investor confidence in the short duration of the current phase of falling oil prices and their rapid recovery in the direction of the average annual level of $55/bbl and the reduction of discount for sanctions risks, given Russia’s actions in the international arena in the fight against terrorism that receives a positive response from Western countries,” – said the expert.