Russian stocks to fall on concerns about new US sanctions - 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 to fall on concerns about new US sanctions

MOSCOW, Aug 9 (PRIME) -- Russian stocks are likely to fall on Thursday morning over possible new U.S. sanctions, analysts said.

УThe first reaction to the announcement of the U.S. sanctions against Russia looks too excessive, but the market may remain under pressure of sales even today. Mounting uncertainty results in a higher discount on market multipliers with which Russian shares trade against foreign peers,Ф Anton Startsev, a senior analyst at investment company Olma, said.

On Wednesday, Russian media released an allegedly full text of a bill on new U.S. sanctions, including a full ban on operations of seven Russian banks, including major state-owned banks Sberbank, VTB Bank, Vnesheconombank (VEB) and Promsvyazbank. The news resulted in a national market slump and in the ruble falling to a two-year low against the U.S. dollar.

But Startsev also said that contraction of the U.S. dollar-denominated Russian shares will be partially compensated by the fall of the ruble.

УThe sanction theme is again in focus of the Russian market. Investor worries are fair, as the possible measures include restrictions for state banksЕMany players of the market donТt fully understand the potential consequences of the sanctions. This uncertainty ultimately brings fear, and market fears translate into collective sales,Ф Vasily Karpunin, an analyst at BCS Broker, said.

Mikhail Poddubsky, a senior analyst at Promsvyazbank, said that the recent news show the will of the U.S. to raise the sanction pressure on Russia seriously. УNevertheless, the significant weakening of the ruble provides support to the MOEX Russia Index and to Russian exporters, as there are no tough sanctions against the energy sector, so we expect the index to hold around 2,280Ц2,300,Ф he said.


09.08.2018 09:55
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 74.3332 +0.0369 23 feb
USD 65.5149 -0.0252 23 feb
Stock Market Indices
1D 1W 1M 1Y
rtsi 1198.40 +0.82 18:50 22 feb
micex 2488.63 +0.74 18:50 22 feb
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 154.64 +0.74 18:49 22 feb
lkoh 5527.00 +1.46 18:47 22 feb
rosn 401.50 +1.27 18:48 22 feb
sber 205.25 +0.90 18:49 22 feb
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 74.2900 +0.0325 14:59 22 feb
USDTD 65.4075 -0.0575 17:44 22 feb