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Business / Finance

The Russian stock market may continue to grow after the holidays, while maintaining the rise in oil prices

Forex Club 04.01.2019 at 16:29

The Russian stock market on 4 January before the next long weekend on Masuria increased to the levels seen in mid-December 2018 on the background of the rise of oil prices above $58 a barrel.

on Friday Evening Mosberg index added 1.3 percent, climbing above the psychological mark of 2400 points. The RTS index grew by almost 3%, showing a significant strengthening against the background of growth of the ruble to the dollar.

the dollar fell on Friday more than 80 kopecks, and the Euro - more than 90 cents. This contributed to a sharp rise in oil prices by almost 4% to more than $58 per barrel of Brent. Since the new year began to be limits of oil production, the agreement which was reached OPEC+ in early December.

the leaders of growth on Masuria were shares of MTS (+3,24%), "Endesa" (+3,2%) and "Transneft" (+3%), the outsiders - "M. Video" (-2.3%) and GAS (-2%). Trading volumes on the Russian market was relatively small, as it is now trading on Masuria will resume only on January 8.

With the Western and Asian stock markets came more positive signals. In particular, the U.S. house of representatives approved the draft budget. In addition, the good news for investors was the message that 7-8 January in China, will hold talks with the US on trade issues. However, market participants continued to afflict the weak statistics on the US economy, and information from Apple on the reduction of sales of smartphones.

Probably, January 8, after the resumption of trading on Masuria, the Russian market can still grow with continued growth in oil prices. Index Mosberg can go to around 2450 points, and the RTS index - to 1150 points.

Market, USA, dollar, oil, ruble, Forex club

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