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Market overview for April 03

Market overview for April 03

As a result of the trading session, the stock market index of the Moscow Stock Exchange lost more than 0.6% and closed at 2257 points. RTS sank to a more prominent 1.2% to 1234 points.

The external background by the evening was represented only by American indices, as Europe is resting. The S & P 500 lost 2.37% in the evening, reacting to a wide range of negative factors, beginning with the trade wars and ending with an imbalance between the yields of the stock market and the bond market, which arose against the backdrop of a Fed rate hike.

Rosstat on the basis of the updated estimate of Russia's GDP in 2017, confirmed its preliminary data: the economy in real terms rose by 1.5% year on year. It was not without surprises, surprised by the revision by industry. On construction, the fall by 0.2% yoy was changed by an increase of 0.5%, the growth in trade instead of 3.1% was 3.3%, growth in financial activity was revised downward from 2.5% to 1 ,5%. In general, initially, the growth in consumption in the public sector was strongly underestimated, which, however, is moderately negative from the point of view of the structure of the economy in terms of its effectiveness.

In Russia, the leaders in the decline were Polyus (ao: -3%), Tatneft (MCX: TATN) (ao: -2.2%) and ALROSA (MCX: ALRS) (-2.1%) . The leaders of growth were OGK-2 (MCX: OGKB) (3.3%), M.Video (MCX: MVID) (+ 3%) and Transneft (MCX: TRNF_p) 2.2%). Sell-out in shares affiliated with "Amount" "FESCO (MCX: FESH)" (-22%) is caused for the most part by a near-panic mood. After the well-known lawsuits of Rosneft (MCX: ROSN), investors in Russian shares tend to close any long positions on securities in case the state claims to the owners of the companies. Whatever it was, from a fundamental point of view, the fall in FESCO shares looks illogical. Here you can draw a parallel between Sistema and MTS (MCX: MTSS), the shares of the second company recovered very quickly after Rosneft's attack on Sistema, the operating activity of the mobile operator was not affected.

Futures for the main grades of oil lost in the range of 2.7%: Brent was quoted at $ 67.9 per barrel, and WTI - $ 63.2 per barrel due to trade wars threatening economic growth.

Oliver Gilbert, analyst of company

Foto: © Reuters. The Russian market experienced strong pressure from the external background


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