The external background on Wednesday morning can be described as moderately positive. Sentiment abroad has improved, and Brent oil prices are rising after minor changes the day before. Gold quotes tend to reach around $4,100/oz.
Trading on the US stock exchanges ended yesterday with a predominant growth of the three main indexes within 1%, led by the Dow Jones Industrial Average. The indicators, however, did not stay at the highs of the day, and the high-tech Nasdaq closed the day in a symbolic negative. Investors were waiting for the release of the results of a number of large issuers after the close of the main trading. At the same time, data on the US housing market for September released on Tuesday turned out to be weak and showed a drop in the number of new home starts by 5.2% mom, construction permits by 0.2% mom, and the index of pending home sales by 7.3% mom.
Futures for the S&P 500 index are adding about 0.2% in the morning, maintaining a moderately optimistic mood above the support of 7,700 points. Investors reacted positively to the quarterly results published after the close of major trading SpaceX (+9.1%) and Super Micro Computer's preliminary reports (+16.4%) and Netflix's negative forecasts (-5.5%).
Trading on European stock exchanges ended yesterday with a decrease in the index The Euro Stoxx 50 rose 0.3%, which in the course of the day updated another low since the beginning of June, but regained a significant part of the lost positions amid improving sentiment in the United States and a correction in oil prices. Concerns remain in the region about France's political and debt situation, as well as increased inflation. On Wednesday, macroeconomic data, in particular, showed an acceleration in the growth of the UK consumer price index in September from 3.1% to 3.5% yoy, and the producer price index from 6.7% to 8.3% yoy.
Positive dynamics prevailed at trading in Asia in the morning against the background of improving sentiment in the US IT sector. Japan's Nikkei 225 rose 1%. The Australian ASX 200 increased by 0.2%. Chinese indices remain weak in recent days and are losing within 1.3%, negatively reacting to the reports of CATL, the world's largest manufacturer of batteries for electric vehicles (-12%). Hong Kong The Hang Seng is falling 0.8% and has updated another low since the beginning of July. South Korea's KOSPI jumped 3.3%, led by shares of chip manufacturers. Papers from a South Korean manufacturer of infrastructure for AI data centers Elice, in particular, after the recent IPO and yesterday's collapse, recovered losses and "soared" by almost 30%.
December Brent crude futures are adding about 1.5% in the morning after falling by less than 1% the day before, when prices showed increased volatility and fluctuated in the range of $105.90-$112/bbl during the day, playing off reports of a possible peace agreement between the United States and Iran. Quotes on Wednesday resumed their course towards the peak reached the day before from May at $111.99/bbl and continue to react to continued tensions in the Middle East, where ships and various facilities in Saudi Arabia are being subjected to new attacks. API data before today's report by the US Department of Energy showed a drop in oil reserves in the country last week by 4.93 million barrels, a positive signal for prices.
The Moscow Exchange and RTS indices rose by 0.69% and 0.65%, respectively, yesterday, updating the next highs since mid-June (2,471 points) and since the beginning of July (939 points). The indicators, therefore, remain on course for resistances of 2,510 points and 955 points, respectively, which they can achieve while maintaining a favorable geopolitical background.
The ruble against the yuan on the Moscow Stock Exchange strengthened by 0.5% the day before, to 12.35 rubles, during the day stopping growth close to the September maximum of 12.32 rubles. The official dollar and euro exchange rates of the Central Bank of the Russian Federation amounted to 82.88 rubles and 93.04 rubles, respectively (against 82.85 rubles and 93.23 rubles on the previous working day), reflecting a restrained decline in the ruble against the dollar and strengthening against the euro.
At the beginning of the main trading session, the Russian stock market is set to develop restrained growth and will wait primarily for geopolitical signals regarding the Ukrainian crisis. After yesterday's talks with the President of Ukraine and statements on the development of concrete proposals for concluding a peace agreement, US Special Envoy Witkoff will meet with Vladimir Putin in St. Petersburg on Wednesday. Russian Prime Minister Mishustin is holding a meeting with the Premier of the State Council of the People's Republic of China, and gas agreements may become one of the main topics of negotiations. On the corporate front, investors are waiting for PhosAgro's interim financial results for 2026 under IFRS and a possible dividend announcement.
Elena Kozhukhova, analyst at IC VELES Capital. 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.
