The Russian stock market returned to the trading in a good mood last week; the growth was around 0.4% at the opening, but an hour after the start of the session the leading stock indexes have reduced their growth, while the MICEX index went down to minus 0.3%. "Among the top gainers are the shares of Rosset and Mechel, Rusal, Megaphone and PIK papers remain in the negative zone," said analysts from Alpari.
External background was mildly positive to the today's trading.
U.S. markets closed the previous trading session with strengthening; oil prices retreated a little to the current moment from the local maxima. The S & P future is growing.
On May, 22nd in St. Petersburg the Economic Forum starts off. The main directions of discussions are social services and investment, which in general are pretty important. It is unlikely that any major agreements will be signed on the first day of the PMEF, but the plans on contracts, which are prepared to sign, are the same as in the previous year.
Russian ruble continued to strengthen its positions in pairs with the US Dollar and the Euro last week. One dollar cost 34.29 rubles to the current moment; the Eurocurrency - 46.86 rubles. Both pairs look much oversold, but the investors are not too worried about it yet, - say analysts from Masterforex-V World Academy.
To continue the constructive growth the MICEX index should correct into the area of 1325 points, where a new wave of purchases can be waited for.
According to the information circulating in the business community, that was voiced by Gunther Oettinger the EU Commissioner for Energy and rejected by major Western corporations offer to pay the expense of large European customers pumping gas in Ukrainian underground gas storage with the issue price of about $ 4 billion- all this primarily indicates that the given funding to the current Kiev authorities by America and its allies, will be used primarily for the implementation of corruption schemes. The transferring of a number of important economic functions in the Russian government from Arkady Dvorkovich to Alexander Khloponin may be considered as a signal of serious weakening of the "liberal factions in the Kremlin," because the necessity of Russia to confirm its loyalty to the West begins to tend to zero in the environment of increasing sanctions and the actual cold war against Russia, as it is reported by the analysts of Alpari Company.
The price of oil is quite stable. Furthermore, the price varies within the range of $ 105 - 113. At the moment there is a greater likelihood that prices will raise to the upper limits of the range. High oil prices balance the outflows of funds
