How will the markets open on Monday?
During the upcoming trading week, the Russian market will depend on the information background surrounding the upcoming bilateral meeting of the US and Russian presidents in Alaska. In the long term, experts expect the ruble to weaken due to the Central Bank's policy of reducing the key rate
On Russian markets, the entire trading week will be marked by the talks between Putin and Trump in Alaska scheduled for August 15. On hopes of settling the Ukrainian conflict, the Moscow Exchange index has already gained more than 7% over the past week, exceeding the 2900 mark, while the RTS index has risen by 8% and almost reached 1155 points.
Brent fell 4% amid OPEC production increases and is now below $67 per barrel. The official US dollar exchange rate set by the Bank of Russia fell to 79 rubles 78 kopecks.
Investment strategist of Ari Capital Management Company Sergey Suverov says:
Sergey Suverov, investment strategist at Aricapital Management Company
Movement on the markets will depend on news about the meeting of the Russian and American presidents, Ilya Golubov, senior portfolio manager at Renaissance Capital, agrees with his colleague:
— The Russian stock market will move in whichever direction it falls from the information point of view. That is, for now we see a fairly large, strong positive movement on the stock market. If we talk about the ruble, then here we are still dancing primarily from the rates, the high rate is keeping the ruble at a fairly high level against the dollar, against the yuan, but, most likely, as the Central Bank lowers the rate, then the ruble, in general, will weaken. And as for oil, here, I think that some short-term fluctuations are possible, we see, OPEC+, for example, said that it will pump a little more oil, accordingly, this oil, coupled with some geopolitics and easing tensions, oil weakened against the background, probably, of a slowdown in the global economy.
— If we talk about numbers?
— Oil, I think, will be at approximately the same levels, if we are talking about currency, then I think that the ruble will be 80-81, most likely, next week, regardless of what happens with geopolitics. Well, stocks, probably, we will try to go somewhere above 3 thousand points, but where exactly, as new information appears, we will see.
On August 11, Sber will publish its financial results under RAS for July, on August 12, VK will publish its financial results under IFRS for the second quarter, and on August 15, Headhunter will publish its financial results under IFRS for the second quarter.
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