The growth of oil quotations may deter Russia from a strong correction
Yesterday Brent price exceeds $ 70 mark per barrel, updating the maximum seven. Fair to note that it is not protected Russian oil «pieces» of a small decline. In general, the MICEX yesterday lost 0.5%, RTS added 0.8%. Leaders of growth in the first echelon by shares of Sberbank (+1.7%). In the «second-line» again heartened investors, led by energy RAO ES East (+28%) and DEK (14%). We associate the interest primarily to the Far East assets so that the paper until recently, looked the most undervalued.
External markets are likely to have produced a quiet opening of the Russian market. Major indices have changed slightly. Oil continues its climb, which can provide support to «chip» and protect the market from a strong fall. We recommend investors to keep the existing long positions, but to refrain from active purchases at current levels. In our view, the probability of correction after the rapid growth is high enough. In addition, next week will be resolved «shorts».
Irina Filatova,
Analyst Investment Company BKS
http://www.bcs.ru/
Yesterday Brent price exceeds $ 70 mark per barrel, updating the maximum seven. Fair to note that it is not protected Russian oil «pieces» of a small decline. In general, the MICEX yesterday lost 0.5%, RTS added 0.8%. Leaders of growth in the first echelon by shares of Sberbank (+1.7%). In the «second-line» again heartened investors, led by energy RAO ES East (+28%) and DEK (14%). We associate the interest primarily to the Far East assets so that the paper until recently, looked the most undervalued.
External markets are likely to have produced a quiet opening of the Russian market. Major indices have changed slightly. Oil continues its climb, which can provide support to «chip» and protect the market from a strong fall. We recommend investors to keep the existing long positions, but to refrain from active purchases at current levels. In our view, the probability of correction after the rapid growth is high enough. In addition, next week will be resolved «shorts».
Irina Filatova,
Analyst Investment Company BKS
http://www.bcs.ru/
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