The Moscow stock market is trying to return to 2,500 points, and the central bank has increased foreign exchange purchases to 15 billion rubles per day.
The main thing from today's episode of the show Capital with Grigory Baglerian:
Moscow's stock index slowed its decline amid expectations for negotiations on Ukraine. Sberbank's share became positive, Gazprom's share also started to grow, and supported the index.
Trilateral negotiations on Ukraine are scheduled to begin tomorrow in the United Arab Emirates. The market positively perceives the reports on the strengthening of the Russian delegation, which is expected to include Deputy Foreign Minister Sergei Ryabkov.
What is the main index for the Moscow Stock Exchange is back to 2,500 points. While the index moves in the range of 2430-2550 points, there are no new fundamental reasons for sustainable growth.
Tomorrow the central bank will announce the parameters of operations with ruble liquidity. If the regulator increases the amount of funds provided to banks, the Russian stock market may receive additional support.
Starting today, the central bank increases daily currency purchases to 15 billion rubles. This is more than 20% of the volume of transactions in the previous period.
The ruble may come under pressure in November and the first half of December. If the flow of export earnings slows, increased purchases of foreign exchange could push the yuan above the current 12.30 rubles.
Global stock markets remain jittery after large-scale sell-offs. In the past, the decline in American stocks also affected the markets in Asia and partly in Europe.
New risks have emerged around Nvidia and its head Jensen Huang. The possibility of filing an indictment in connection with the alleged resale of advanced chips to China through a Singaporean company is being discussed.
The main stock indexes in America turned negative again. Negative news surrounding the technology sector continues to weigh on the market.