The external background of Wednesday morning can be called ambiguous. Sentiment abroad has worsened, and Brent oil prices have returned to growth. Gold quotes remain below $4,200/oz in the face of a strong dollar.
Trading on the US stock exchanges ended yesterday with the growth of the three main indexes within 0.6%, while the high-tech Nasdaq, along with the S&P 500 broad market indicator, updated records. However, the indices retreated from the highs of the day amid a return to higher oil prices, maintaining some caution. Otherwise, investors reacted to the downward correction in government bond yields, which fell below 5.3% for 10-year securities, in particular, and tended to 5.6% for 30-year securities. Yields reached their highest levels since 2002 a day earlier. In addition, the market hopes to maintain the same monetary conditions at the Fed meeting in October.
Futures for the S&P 500 index are adding about 0.1% in the morning, moving to a more restrained trend amid renewed growth in government bond yields. The day in the USA will be marked by the publication of the minutes of the Fed meeting.
Trading on European stock exchanges ended yesterday with an increase in the index Euro Stoxx 50 rose 0.5%, which, however, retreated from the highs of the day and the resistance of 6290 points. At the same time, data released on Wednesday morning showed an increase in German industrial production in August by 2% mom after its decline by 1.2% a month earlier.
A negative trend prevails at trading in Asia in the morning against the background of higher oil prices and a deterioration in global sentiment. Japan's Nikkei 225 dropped 0.8%. The Australian ASX 200 fell 0.1%. China's stock exchanges are closed for the weekend until Thursday. Hong Kong The Hang Seng is losing 0.7%, remaining close to the low reached earlier in the week since the first half of July. South Korea's KOSPI is falling 2%, under pressure from profit-taking in shares of semiconductor manufacturers.
December Brent crude futures are adding just under 1% in the morning after turning up and rising within 0.5% the day before. Quotes on Tuesday returned above $100/bbl by the end of the day after declining for most of the day, responding to reports of the formation of hurricanes in the area of important US oil and gas facilities that could damage processing facilities. In addition, tensions in the Middle East remain, and the American Petroleum Institute, before today's report from the US Department of Energy, reported a reduction in the country's reserves of "black gold" by 2.09 million barrels last week.
The Moscow Exchange and RTS indices retreated from the resistances of 2335 points and 870 points the day before and did not show a single trend, reacting to the currency factor and corporate stories. The ruble indicator increased by 0.16%, while the dollar-denominated RTS decreased by 0.75%. The nearest supports for the indices are located at 2305 points and 850 points.
The ruble against the yuan on the Moscow Stock Exchange strengthened the day before and rose 0.5% to 12.69 rubles, retreating from the intraday low of 12.84 rubles since the beginning of September. The official exchange rates of the dollar and euro of the Central Bank of the Russian Federation amounted to 85.71 rubles and 96.03 rubles, respectively (against 84.93 rubles and 95.33 rubles on the previous working day), reflecting the ruble's decline against both currencies. The ruble continued to win back the news about the intention of the Ministry of Finance of the Russian Federation from October 7 to increase daily purchases of currency and gold to 12.7 billion rubles from 2.5 billion rubles. a month earlier.
At the beginning of the main trading session, the Russian stock market is set to grow and may aim for September peaks of 2,382 points and 890 points according to the Moscow Exchange and RTS indices, respectively, despite yesterday's news about the possible approval on Wednesday of another large-scale package of EU sanctions. Investors focused on Trump's statements about a planned telephone conversation with the Russian president in the near future. In addition, officials do not rule out a possible meeting of the leaders of Russia, the United States and China at the APEC summit in November. Higher oil prices will also have a positive impact on sentiment.
Elena Kozhukhova, analyst at IC VELES Capital.https://veles-capital.ru/analytics/article/rossiyskiy_rynok_derzhit_kurs_na_sentyabrskie_piki/
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