Russian stocks may edge up at opening as Fitch affirms ratings - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Russian stocks may edge up at opening as Fitch affirms ratings

MOSCOW, Aug 20 (PRIME) -- Russian stocks may edge up on Monday as international rating agency FitchТs affirmation of the countryТs ratings at BBB- with a Positive outlook will support local shares, while the oil price dynamics will dwarf the upward movement, analysts said.

УWe expect the MOEX Russia Index to open with an insignificant increase of 0.2Ц0.3% in the range of 2,255Ц2,260ЕThe market is likely to price in the positive Friday news on Fitch affirming the long-term issuer default ratings of Russia at BBB- with a Positive outlook during the first minutes of trade,Ф Vitaly Manzhos, a senior risk manager at investment company Algo Capital, said.

УBut this positive impact may be significantly softened by the morning worsening of the mood on the oil market. Later in the day, the MOES Russia Index is likely to switch to consolidation close to the opening point.Ф

The Brent oil price lost 0.167% to U.S. $71.71 per barrel as of 9.01 a.m. Moscow time, according to the ICE exchange.

УThe external background provides no drivers for strong movements on the stock market. At the same time, the Emerging Portfolio Fund ResearchТs data shows an increase in outflow of money from Russia-dedicated funds, which may be seen as a confirmation of a material impact of concerns connected with sanction risks,Ф Anton Startsev, a senior analyst at investment company Olma, said.

УFrom the point of view of technical analysis, we would be able to speak about significant movements if the RTS index falls below the local minimal point of 1,040.Ф

Manzhos also said that local traders will track the oil price dynamics as no noticeable macro statistics are to be released.

End

20.08.2018 09:39
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 78.0753 +0.3224 22 sep
USD 66.2497 -0.2228 22 sep
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1149.53 +0.78 18:50 21 sep
micex 2426.80 +1.08 18:50 21 sep
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 158.64 +2.78 18:49 21 sep
lkoh 4737.50 +0.78 18:49 21 sep
rosn 440.40 +0.39 18:47 21 sep
sber 193.44 +1.19 18:49 21 sep
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 78.0275 -0.1025 14:59 21 sep
USDTD 66.5250 -0.2275 17:44 21 sep