• Russian stock market daily evening report (September 07, 2015, Monday)


    Market today. Chinese exchange market closed the day looking down after the long lasting holiday: ShanghaiComp (-2.5%), CSI (-3.4%), Hang Sang (-1.2%), which however, was no reason for the European indices to slip as Europe showed correction upwards after a serious slip of the indices on Friday. The recent full trade week closed with a serious slip in China and the governmental authorities could save from the volatility. Therefore, the exchange market’ dynamics of China might this week add not only volatility at the global markets, but lead to forming of a mid-term trend.

    The Russian market, unlike European market, continued following the oil dynamics that reduced below 49 USD per bbl: RTS (-1.4%). Ruble MICEX remained in slight positive due to the stocks of exporters: Norilsk Nickel (+1.26%), NLMK (+0.76%) and PhosAgro (+2.87%).

    Market tomorrow. Aside the dynamics of thee exchange market of China, within the nearest future, the markets will experience the factor of the upcoming Fed session, and all the possible oratory regarding the prospects of the rate upping.


    Market today. The debt market started the week inactively at the back of a holiday in the US. Ruble loans grew slightly in price, following the oil prices roll back. OFZ lost about 20 bps, yield grew 2-3 bps. In the corporate segment, mild selling went on the loans RusHydro-8, Rostelecom-19 and GSS-1. Eurobonds prices remained unchanged. Russia-43 slipped 15 bps to 93.8% of the nominal, Russia-23 – 5 bps to 96.4% of the nominal.

    Market tomorrow. Early today, the Russian market will show low trade activity, participants will be waiting for the American investors to return. However, later on, the market is unlikely to exit the sideways trend until the Fed session.

    FX market

    Market today. Having fixated Friday above 68 RUB, dollar did not leave the range 68.25-68.50 RUB, waiting for a chance to exceed the upper border of the given range.

    Market tomorrow. Within the recent days, the reaction of the currency market to oil fluctuations near 50 USD got calmer, investors were taking given fluctuations as a progressing consolidation. However, the price upping above the level of 50 USD does not scare dollar much anymore, while the oil price dip to 48-49 USD was quite sufficient to make the American currency grow to 68-69 USD.

    Contributed by Veles Capital
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