The Russian market is gradually recovering its position, lost at the end of the first quarter. In the course of trading on Wednesday, the index of the Moscow stock exchange rose to 2758,44 points — a maximum since March 6. The RTS index exceeded the level of 1200 points. The dollar fell below $ 72 RUB/$, and the Euro — below 79 RUB/€. Besides the General growth of appetite to risk at investors of the Russian market is supported by rapid recovery in oil prices and the expectation of a sharp decline in the key rate of the Central Bank.The index of the Moscow exchange in today’s trading session has updated a maximum since the beginning of March, reaching 2758,44 points, 1.7% above the previous day’s close. For the week the index increased by almost 6%. Exchange the RTS index in the course of trading reached a level of 1207,89 paragraph, the highest since March 10. The dollar on the stock exchange reached RUB 71,71/$ — the lowest since March 11. The Euro fell to the level of 78,44 RUB/€.After stagnating in the market, which lasted about a month, investors once again began to show interest in risky assets. The leading equity indices of foreign countries has recovered by 40-60% compared to March failure. Russian indices recovered 50-65%. As noted, the asset Manager BKS Andrey Rusetsky, in recent days, the markets are buoyant on the launch of a new wave of fiscal stimulus measures in the U.S. ($3 trillion) and Europe (€0.5 trillion). These amounts represent approximately 15% of the capitalization of the stock market, he said.The oil factor gives confidence to the Russian market. As noted by the head of Department of investment consultation IK “Veles the Capital” Victor Shastin, commodity prices exhibit more moderate dynamics than three or four weeks ago. According to Reuters, the quotations of the European grades of oil has reached the highs from early March: Urals is around $34 per barrel and Brent around $33 per barrel. Quotes of the futures contract on Brent crude reached $35 per barrel. In addition, among the positive factors, he notes, and the movement of the key rate in the direction to 3.5% (currently 5.5 percent). According to Andrey Rusetsky, the strengthening of the ruble could be caused by the influx of foreign money prior to placement of OFZ (the amount may exceed 100 billion rubles) and tax payments by Russian companies. Investors rush to participate in the rally of bonds after a clear signal from the Central Bank about the large rate cut in June, he says.The Department of Finance
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