The Russian stock market has updated a maximum for the MICEX after oil

Рынок российских акций обновил максимум по ММВБ вслед за нефтью

The Russian stock market rose on the main index after oil continues to rise after the agreements at the summit of OPEC, while the MICEX index once again renewed its historical maximum.

The MICEX index to closing has grown on 0,81% — to 2121,87 paragraph (rose to 2128,7 points), RTS index — on 1,79% — to 1047,43 points, follows from the data of the Moscow exchange.

The dollar calculations “tomorrow” to 19.10 MSK decreased by 45 cents to 63.69 ruble, Euro — by 36 cents to 67,63 of the ruble.

February futures for Brent oil grew by 4.38% to 54,11 per barrel.

A key factor in support of the Russian index acts as a positive for the oil market, provoked by the yesterday’s decision of the OPEC to limit production, says Irina Rogova of Forex Club.

“It is worth noting that the message of the President of the Russian Federation about possible tax reform, is scheduled for 2017-2018 years, also supported the markets,” adds Igor Arnautov from “Veles Capital”.

Leaders and outsiders

Among leaders of growth – preferred shares of Transneft (6,16%), actions “Poles” (5,16%), MTS (3,8%), MegaFon (3,49%), TMK (3,25%) and Gazprom (2,7%), Acron (2,63%) and paper Tatneft (preferred shares rose by 2,63%, ordinary shares – on 2,55%).

Among leaders of decrease ordinary shares of “Russian grids” (-2,98%), actions “Mosenergo” (-2,61%), HSCI (-2,29%), Polymetal (-2,22%), M. Video (-2,2%), “Enel Russia” (-2.19%) and of the action “RusGidro” (-2,03%).

Forecasts and recommendations

Most likely, in the near future traders prefer to exit positions, especially because some risks are the outcome of the referendum in Italy, which will take place on the upcoming weekend and threatens the political stability of the country and the Eurozone as a whole, said Rogova from Forex Club. Therefore, MICEX on Friday may go back to around 2090 points, she believes.

Growing trade channel, the index originates from the 9th of November, that is, lasting more than three weeks and becoming more and more similar to the “bubble”, says Anna Bodrova of Alpari. With the pace of growth of the Christmas rally will be forgotten, she said.

“Resistance at MICEX no, because so high the indicator has not yet been raised. The goal is to serve the region 2135-2150 points, or maybe a little higher,” — says the analyst.

The Russian stock market is so high climbed to unprecedented levels on Friday, a small correction is possible, in which the MICEX index will drop to 2100 points, while the RTS index will fall to 1031 of the item in reducing the cost of oil by 0.5%, according to Mikhail Krylov from “Golden Hills — Kapital AM”.

“At the same time, novice investors need to keep in mind that the short position on the index is not fundamentally justified as long as no serious reasons to doubt the feasibility of the agreement of OPEC,” he adds.

On Friday, the increase in the Russian stock market will be limited by the closing position of the investors before the weekend, said Arnautov from “Veles Capital”. The output of the number of people employed in non-agricultural sector of the USA in case you publish a strong values can also exert pressure on the Russian market, he said.