MOSCOW (Reuters) – The Russian stock market ends the trading week with a decline without support from global markets, which are increasingly seized by concerns about the low likelihood of approval of fiscal stimulus in the United States amid disappointing news about the situation with the coronavirus, as well as looking at the falling ruble and uncertain dynamics oil prices.
The ruble showed significant weakening against both the dollar and the euro.
By 17.45 Moscow time, the RTS index fell 1.80% to 1.167.61 points, the Moscow Exchange index, calculated in rubles, decreased less noticeably – by 0.45% to 2.899.07 points.
Underperforming the market today is the shares of the recent growth leaders – AFK Sistema (MCX: AFKS), which lost 3.39% in price. The shares of Aeroflot (MCX: AFLT), which is in the process of SPO, continue to fall in price – by 2.2%. Among the leaders of the decline were the shares of Gazprom (MCX: GAZP), which fell 2%.
However, closer to the close of trading, demand returned to a number of securities, in particular, a small technology sector: Qiwi (MCX: QIWIDR) added 3.48%, Yandex (MCX: YNDX) – 2.14%. Detsky Mir (MCX: DSKY) shares were among the growth leaders during the day due to the upcoming dividend cut-off, increasing by 1.34%.
Receipts for HeadHunter shares, which began circulation in Moscow today, grew to 1,890.2 rubles from 1,875 rubles at the start of trading.
“So far, the September correction looks like a healthy chill and a reason to enter the market at attractive levels,” said Maksim Biryukov from Alfa Capital.
“For a catastrophic collapse, extreme events will be needed such as new massive lockdowns, an unexpected increase in key rates or new“ black swans. ”The current stage of the new business cycle (the very beginning), the authorities' willingness to stimulate growth with monetary and fiscal mass vaccination against coronavirus “.
(Olga Popova. Editor Dmitry Antonov)