Oil prices help
The Russian stock market is trying to adapt to the new realities of the ruble exchange rate and oil prices. Rising oil prices and the strengthening of the ruble in April increased inflow of funds in Russian equity funds. Interest in Russian assets as emerging markets increases in the euro area and carrying out the program of quantitative easing QE, which resulted in increased appetite for risk. At the same time make themselves felt medium- political and economic consequences of the current crisis. When assessing the drop in GDP in March in the amount of 2.9% of investors sensitive to negative news, which makes growth stocks unstable. Thus, the history of the European Commission claims a monopoly position of Gazprom in Europe led to the risk of correction of the MICEX index by 1640, says that most of the consolidation of the market before the May holidays before strong resistance around 1715-1720. Hard to imagine the development of the downtrend at such a spectacular exit of oil prices above $ 60 a barrel and expectations reduce the key rate of the Central Bank at a meeting on 30 April. Perhaps oil prices under the influence of the strong position of the dollar before the Fed meeting on April 29 and will present new surprises. But it is unlikely to reverse the Commission claims the flow of money in Russian stocks, which are constantly looking for ideas of growth against the backdrop of their undervaluation. An example is yesterday's growth shares of Aeroflot after the March data on growth of passenger traffic. In any case, now a moderate accumulation of appropriate medium-term securities. After attempts to win back losses environment on Thursday - Friday expect a positive opening.
Main news:
- The government is expected to announce on Thursday to maintain the funded part of the pension
- The Board of Directors of Severstal recommended to pay as dividend for the first quarter of 12.81 rubles. per share.
- Severstal reported for the first quarter of 2015. IFRS. Dollar revenue fell (q / q) to 18.5%, EBITDA fell by 2%, the EBITDA margin increased from 32.1% to 38.5%. The company posted a net profit of $ 343 million after the loss of the 4th quarter.
- Retailer Magnet improved forecast of revenue in 2015. up to 28-32% from 26-32%.
- Gazprom considers the claims unfounded Commission, at the same time Naftogaz complained of Russian companies in Brussels.
- Sberbank warned about the risks of exhaustion of the Reserve Fund in 2015.
