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The Russian stock market is growing against the OPEC news

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The Russian stock market is growing against the OPEC news

The Russian stock market is growing against the OPEC news
September 29
16:00 2016

At the opening of the trading session on Thursday stock indexes began to increase on the background of the sudden news that the OPEC members had reached the agreement at the Algerian meeting. It should be noted that the oil and gas sector has been the leader among the stock indexes. However, this dynamic has stopped its developing as the stock indicators have reached stable levels.

By midday the MICEX index has risen by 1.2 percent, compensating its fall at the start of the week. The RTS index has increased by 2.3 percent, reaching 998 points.

An employee of the International Sales Department of the Russian investment company said: “The market seems to be digesting the information and reinventing the real possibility of reducing the (oil) production and the potential scale. This explains why the Brent quotes are still in the usual range of $ 42-52 per barrel even after the news. “

The intensity of today’s trading session does not vary very much from the previous trading. By this time the total volume of transactions on securities of the MICEX index has become equal to 11.5 billion rubles.

Rosneft shares have taken a leading position in the growth of the MICEX index, adding 2.7 percent. The cost of Lukoil securities has increased by 2.5 percent, Gazprom shares – by 1.5 percent.

The segment of metallurgical and mining companies is characterized by the diversity dynamics. Such shares as MMK Norilsk Nickel and Severstal are being adjusted after a moderate increase, which was due to favorable conditions in the global metals markets.

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