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The Russian stock market is stable on Wednesday

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The Russian stock market is stable on Wednesday

The Russian stock market is stable on Wednesday
September 14
14:30 2016

On Wednesday Russian stock indices have become stable with the support of oil after it has been falling for 4 consecutive days. The securities of M. Video have overtaken the most part of the index shares in the percentage increase due to the new planned project. After the reporting output on the deceleration of sales, Dixy has been in the tail.

By midday the MICEX index has risen by 0.26 percent against the previous closing figure and amounted to 2.009 points. The RTS index has increased by 0.6 percent – up to 974 points.

The papers of M. Video, which is a household appliances and electronics retailer, have soared by 1.99 percent and amounted to 369.4 rubles. Previously, the company announced that it intended to launch an online project that may become a new catalyst for the company’s growth, although it would not be easy to be in the competition with the trade aggregator Yandex.Market

Citing the sources, “ Vedomosti” has informed that M.Video is planning to sell products that are non-core ones for the company at a new trading platform.

Securities of the food products retailer Dixy have fallen by 2 per cent and amounted to 338.9 rubles. This has become the weakest dynamics in the MICEX index. The data from the report of the company indicate that the rate of the revenue increase has decreased to 12.1 percent in annual terms. Last July sales grew by 20.2 percent, in June – by 24.6 percent.

In the second half of the day the data on the US oil reserve stocks from the Energy Information Administration can influence the fluctuations of oil prices.

On Wednesday afternoon oil quotes have restored after a previous fall by almost 3 percent. This has happened because the information of the American Petroleum Institute (API) recorded a lower than expected increase in the US inventories.

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