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The securities market of the Russian Federation has been opened with the fall of MICEX and RTS, caused by the collapsed oil

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The securities market of the Russian Federation has been opened with the fall of MICEX and RTS, caused by the collapsed oil

The securities market of the Russian Federation has been opened with the fall of MICEX and RTS, caused by the collapsed oil
September 09
16:00 2016

On Friday the Russian stock market started with the fall following oil quotations and global markets, where there are some noticeable changes. For the first minute of the trade MICEX and RTS indexes have lost 0.4-0.7% after the growth.

By the beginning of the day, the MICEX index has become equal to 2043.54 points, the RTS index has amounted to1005,84 points; prices of most major blue chips have fallen in the range of 1% on the Moscow Stock Exchange.

The dollar has jumped to 64.24 rubles.

Earlier indices slightly sagged in the United States. Also, the day earlier the negative dynamics dominated in Asia due to the fallen China .European indexes are decreasing (FTSE, S & P 350, DAX  are losing 0.2-0.3%). Oil and the US stock futures are falling (the contract on the S & P 500 index has fallen by 0.1).

The results of the meeting of the European Central Bank and the performance of its governor Mario Draghi have had a negative impact on the markets. Yesterday the European Central Bank decided to leave the base interest rates and terms of the asset repurchase program unchanged (QE). The program is planned to be extended until March 2017 or until the moment it is needed.

Meanwhile, before the ECB meeting most analysts expected the increase of the program terms for six months till September next year.

Oil quotes have been fluctuating quite strongly in recent years, but they won’t be able to overcome a limit of $ 50 per barrel.

Russia and Saudi Kingdom have signed an agreement, which is aimed at the adoption of common measures to stabilize the oil market. This statement has supported the market. However, a clear plan to limit the oil production of the state was not offered. This has disappointed the traders and could not support an increase in prices for futures contracts.

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