Oil continues to move in an uptrend
According to the results of Friday's trading Russian stock market remained in "red zone". The reason for the reduction of energy served as a dynamic market where Brent crude failed to hold positions above 56 dollars and left in the correction after the previous two days of growth. At the same time the Western stock markets rose today, which should facilitate purchases in Russian stocks. In Europe, the major indexes to the end of the day increased by 0.8 - 1%, and US Dow Jones index and S P500 was added 0.1% and 0.2% after the first hour of trading respectively. However, given the dynamics of our players we are ignored. Following the auction, the MICEX index fell by 0.9%, having fixed below 2200 points and the RTS index fell by 1.4%, to 1159 points. Outsiders trades were shares of IDGC of Center, Rosset and Norilsk Nickel, have lost about 3%. Better than the market closed Raspadskaya and systems, whose growth was around 4%.
On the currency section of the Moscow Stock Exchange, amid correction in oil prices, the Russian ruble weakened against the major world currencies. So, by the end of the main session, the dollar rose 0.4%, breaking the mark of 59.5 rubles, the euro gained 0.3%, to 63.2 rubles. On the international currency market the euro / dollar has maintained a position near the closing levels Thursday, trading just above 1.06.
If you look at the dynamics of the energy market, it is worth noting that the Brent crude oil continues to move in the upward trend, originating from the lows of last year. However, in recent weeks she moved to consolidate above the level of $ 54. In the event of breakdown, I do not rule out a substantial correction. In particular, a reduction goals can be the level of 47.5 dollars where "bulls" They will be supported by the trend and will attempt to resume growth.
As for the dynamics of assets as part of the evening session, the Brent crude oil may try to recover the area of $ 56. The effect on the market can provide statistics on the drilling activity in the US. If the increase in the number of drilling rigs operating will be minimal, it can prop up the market and allow the oil to consolidate above $ 56. This will contribute to the demand for Russian assets and ruble and allow the RTS Index futures finish "Vecherka" growth.
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