One of the factors that dampened the already low investment optimism yesterday was the continued decline in oil prices. The quotes fell below the $ 83 area, where the side of the "diverging triangle", which originated on June 18, passes. Now the nearest support lies in the area just above $ 81, but if the triangle figure is played out, then it will not stand.
Early this morning, oil tried to grow, but not for long, sales resumed. Closer to the opening of Russian trading, they gave about 82.3 dollars per barrel – about the same as yesterday at midnight.
Severstal's reporting suggests bad thoughts - profit and free cash flow have seriously declined both in the half-year and quarter-on-quarter. The paper became the outsider of the day among highly liquid stocks, falling by almost 2.9%.
There is a high probability that the reports of many large issuers for the second quarter and half of the year (with the possible exception of the oil industry) will be disappointing.
The Positive Group reported an increase in net loss for the first half of the year by more than 11 times. This does not particularly frighten us, since one of the largest developers of cybersecurity systems receives the main revenue at the end of the year.
However, the news turned the paper away from the resistance of 3120 rubles. The side corridor for "Positive" stocks with the boundaries of 2810-3120 is still relevant.
The ruble paired with the yuan went below the 12 mark. Consolidation in the foreign exchange market continues, and it is unlikely that the ruble will exit it before Friday, when the Bank of Russia will announce the value of the new key rate, as well as its future plans.
It is unlikely that the regulator will announce its intention to reduce the rate below the current 16% per annum in the foreseeable future. Therefore, the ruble will remain an attractive tool for savings and capital accumulation, and almost all foreign exchange earnings of exporters will continue to be converted into rubles.
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Alexey Antonov, Head of Investment Consulting at ALOR BROKER
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