The Russian stock market was in the red by the middle of the session, having returned to sales amid a neutral domestic news background and worsening foreign sentiment. by 14:50 Moscow time fell by 4.13% to 2100.42 points, and the dollar fell by 0.69% to 1166.47 points, feeling supported by further strengthening of the ruble.
The ruble on the Mosbirzhe against the background of the tax period strengthened by 2.5-3% against the dollar and, being at 57.50 rubles. and 55.80 rubles. respectively. At Forex, the ruble added about 4-4.5%, having overcome the lower boundaries of the medium-term ranges of 58 rubles. and 58.50 rubles. respectively with the prospect of development increase. Chinese lost about 3.5% against the ruble, dropping to 8 rubles.
Increase among the most liquid securities by the middle of the day showed only the shares of Seligdar (+2.5%).
Seligdar’s shares outperformed the market on Friday and showed even more confident growth during the day, which can be explained by the fact that the company, unlike Polyus (MCX:) and Polymetal (MCX:), has not yet announced its semi-annual dividends. Recall that Seligdar (MCX:), unlike Polyus and Polymetal, paid dividends for 2021 with a yield of 8.7%, which gives hope for the possibility of announcing payments for the current year. At the end of August, Seligdar, in particular, announced an increase in net profit under IFRS in the first half of this year by 2.8 times, to 10.71 billion rubles.
From a technical point of view, by the middle of Friday’s trading, there was no positive signal for Seligdar, which would allow us to count on the development of a short-term upward movement. The paper retreated from the area of important short-term resistance of 45 rubles. (middle Bollinger band of the daily chart), below which we can talk about the risks of returning to the lows of the current week. A signal that would give short-term buyers hope for a move to at least 45 rubles would be the fixing of quotes at the end of the session above 40.50 rubles. (bottom Bollinger band of the daily chart).
The decline leaders were Etalon (-8.87%), NLMK (MCX:) (-8.26%), PIK (MCX:) (-8.22%), MMK (MCX:) (- 7.97%), Qiwi shares (-7.58%). MTS (MCX:) lost 6.38%, Sberbank (MCX:) – 4%, and Gazprom (MCX:) – 2.2%.
External background: negative
European exchanges: negative attitude. By the middle of the session, the index accelerated its decline and lost about 2.4% against the backdrop of aggravated economic fears after the publication of another batch of weak statistics. Indicators of manufacturing activity of the main European countries in September continue to indicate a slowdown, but growth is observed in the service sector of France.
oil market: negative mood. The nearest futures for and by the middle of the day also accelerated the fall and lost about 3%. At the same time, quotes of the American grade have updated their minimum since January and have been striving for the area of $80. Oil sites remain under pressure from fears of a reduction in global demand.
US exchanges: negative attitude. by the middle of the session in the Russian Federation lost about 1.3%, also showing a more significant decline than in the morning European session. The market does not yet find reasons for recovery and during the session expects weak data on business activity in the country’s service sector for September, with a possible increase in the manufacturing sector. Powell can comment on the economic situation during his next speech.
Sobtija of the day:
Preliminary indexes of business activity in the sectors of services and industry in the US for September (16.45 Moscow time)
Speech by the head of the Fed Powell (21.00 Moscow time)
EU to discuss sanctions against Russia
the beginning of referendums on the entry of the DPR, LPR, Zaporozhye and Kherson regions into Russia
Market inside the day
General mood: On foreign stock markets on Friday, the tendency to sales continued after another week of tightening monetary conditions in the largest Western economies. Economic improvements are yet to be expected. The Moscow Exchange and RTS indicators were also under downward pressure, calling into question the prospect of further recovery from next week’s lows. The dollar RTS, however, thanks to the strong ruble, has almost reached the area of important resistance of 1180 points. Help mood in the Russian market now can mainly dividend expectations.