Trading on the Moscow stock exchange opened on Wednesday the sharp appreciation of the ruble and stocks, and growth has accelerated.
If the first hour of trading, the dollar dropped below the level of 78 rubles., an hour and a half to the 12:27 GMT the dollar was already less than 77 RUB (RUB -1,15 by the close of trading on March 24).
the Euro fell by 1 ruble to 83.5 rubles.
the Price of oil on world markets remains at the low level of European Brent traded at $27 per barrel, and today have little more expensive (+0.5 percent) after a stormy two-day growth. The us benchmark WTI rose 2% to $24,5.
compared to Western markets, Russian companies have good fundamentals, low debt, which will help them to better survive in the crisis, said Viktor Markov, a senior analyst at “ZERICH capital Management”.
Therefore, the situation on the Russian market looks not as critical despite the high variability of prices. Index Mosuri and a half months fell by 25%, which is better than the result of the us S&P 500 index, which fell by 34%, especially without strong financial support which was provided to the American market, the U.S. government.
this week, the Russian market may show positive dynamics on the background of the support of international financial authorities. Now you can make careful purchases in the Russian market. Best to look to large companies, blue chip, says mark.
“Given the stable exchange rate of the ruble and rising oil prices, today we expect rally in the Russian stock market all sector — analysts at Alfa Bank. – In General, today we will see the consolidation of the market from current levels and reducing the volatility in the background, providing monetary and fiscal support for governments of countries affected by the epidemic. Now investors will closely track the epidemic: the number of infected and deaths, passing its peak in the country; it should be borne in mind that due to the current circumstances (the virus came to the United States later) the statistics in the United States will lag behind the European in 2-3 weeks”.