The external background on Tuesday morning can be described as moderately positive. Sentiment abroad has improved, and oil prices are trying to develop growth from near-term supports.
Trading on the US stock exchanges the day before, after multidirectional dynamics at the beginning of the day, ended with a decrease in the three main indexes within 0.5%, led by the Dow Jones Industrial Average. At the same time, the high-tech Nasdaq updated another historical peak before going into negative territory. The market entered a stage of caution before the publication on Tuesday of data on US consumer inflation for July, which, if exceeded, could reduce the likelihood of an early easing of the Fed's policy.
Futures for the S&P 500 index are adding about 0.1% in the morning. Today's data on US consumer inflation for July, according to average forecasts, may show its acceleration in the base indicator from 2.9% to 3% yoy.
Trading in Europe ended yesterday with a decline in the index The Euro Stoxx 50 is down 0.3%, which remains below 5,400 points and currently continues to develop a medium-term downward trend in the face of economic and trade uncertainty.
There has been a positive trend in trading in Asia since this morning. Japan's Nikkei 225 jumped 2.1% after a long weekend, hitting another record high on trade optimism. The Australian ASX 200 increased by 0.4%, also updating the record after the Reserve Bank cut the interest rate from 3.85% to 3.6%, as expected. China's stock exchanges are growing within 1%. The day before, Trump announced the extension of the deadline for concluding a trade agreement with China for another 90 days, giving the countries space for further negotiations. Hong Kong The Hang Seng hardly changes positions, continuing to consolidate just below 25,000 points.
Brent crude futures are rising within 0.5% in the morning after a similar rise the day before. Quotes remain awaiting geopolitical news and are trying to stabilize above the $65.90 support. On Tuesday, the news about the extension of the trade truce between the United States and China has a favorable effect on prices, which implies the maintenance of stable demand for oil from China. Today, during the day, investors are also waiting for the publication of monthly reports from OPEC and the US Department of Energy on the market.
The Moscow Exchange and RTS indices rose by 1.35% and 1.5%, respectively, following the results of the main session, updating peaks since the end of April (2,996 points) and March (1,183 points), from which they retreated by the close of the session. At the same time, the ruble indicator remained in the overbought zone, to remove which it needs to return to the area of 2,930 points.
The ruble against the yuan on the Moscow Stock Exchange strengthened by 0.6% the day before, to 11.01 rubles. The official dollar and euro exchange rates of the Central Bank of the Russian Federation amounted to 79.66 rubles and 92.94 rubles, respectively (against 79.77 rubles and 92.88 rubles on the previous business day), reflecting minor changes in the ruble against both currencies.
At the beginning of the main trading session, the Russian stock market may move to consolidation in anticipation of news on Ukraine, which may come from the comments of the American president and other world leaders during the week before the meeting between Trump and Putin. In particular, on Wednesday, EU leaders intend to hold an online meeting with Trump and Zelensky to discuss the current situation. It may be difficult for the Moscow Exchange index to gain a foothold above 3,000 points until encouraging news appears about the willingness of the parties to conclude a truce deal with its specific conditions. From Tuesday's corporate news, we can note the entry of the Chinese e-commerce giant JDcom into the co-ownership of M.Video-Eldorado: M. Video shares gained almost 6% in the morning session.
Elena Kozhukhova, analyst at IC VELES Capital. https://veles-capital.ru/analytics/article/indeks_mosbirzhi_mozhet_pereyti_k_konsolidatsii_nizhe_3000_punktov/The "Comments" section of the AK&M news agency publishes materials submitted by Russian and foreign investment companies and banks. Their opinions may not coincide with the opinion of the editorial staff of the AK&M agency. The opinions presented in the comments are expressed taking into account the situation at the time of publication of the material. The comments are for informational purposes only; they do not constitute an offer or advice on the purchase or sale of securities. For questions about the placement of information in this section, please contact the agency's editorial office by phone (499) 132-61-30 ext. 0102.
