What happened in the world of finance in a week # 13
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The previous edition of the information digest can be found at this link .
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The past week began with the fall of the ruble exchange rate during trading on the stock exchange - on February 24, the dollar and euro exchange rates jumped by more than 2 rubles compared to the close of the previous trading session. Thus, investors reacted to the decision of Moody's to downgrade Russia to the “junk” level (Ba1 with a negative outlook).
A day later it became known that the agency lowered the ratings of 11 Russian regions, including Moscow and St. Petersburg, however, the growth of oil prices and the sale of foreign currency earnings by exporters on the eve of tax payments led to the strengthening of the ruble - for the first time since December, the euro fell below 69 rubles .
The official dollar rate set by the Bank of Russia from February 28, 205 amounted to 61.2718 rubles (56.09 kopecks higher than the previous value), and the euro, by contrast, fell by 29.4 kopecks. - from February 28, it was determined by the Central Bank at the level of 68.6857 rubles.
Financial Times analysts estimate that in February the ruble strengthened against the dollar by 14.7%, which was the best indicator since 1993, although January was the worst month since 1998. The Central Bank did not conduct currency interventions last month. In the meantime, S & P warned of the threat of growth in the share of bad loans in Russia to 40%, and private clinics raised prices by 10% due to the devaluation of the ruble.
The new week began with a decline in oil prices - April futures for Brent crude on the London ICE Futures Exchange to 8.28 Moscow time fell $ 0.36 (0.58%) to $ 62.22 per barrel. Following the session on Friday, the value of these contracts rose by $ 2.53 (4.21%) and amounted to $ 62.58 per barrel. As a result, at the beginning of trading on the Moscow Stock Exchange fell to the dollar and the euro. By 10.19 Moscow time the dollar rate calculations "tomorrow" increased by 48 kopecks. up to 62.08 rubles; euro - 48 kopecks up to 69.38 rubles.
The situation in the oil market in his weekly review was described by the chief economist of ITinvest Sergey Egishyants:
Meanwhile, the euro continues to weaken against the dollar. ITinvest analyst Dmitry Solodin believes that this week it is possible to reach the level of 1.08 for the EUR / USD currency pair:
Against the background of rising oil prices and the strengthening ruble, the Russian stock market showed an increase last week, however, a certain weakening of oil prices contributed to the closing of the last trading day in the red zone. The MICEX index fell by 0.1% on Friday 18:50 and amounted to 1,758.97 points, while the RTS index dropped by 1.68% to 896.63 points.
On Monday, March 2, Russian stock indexes rose at the opening of trading. The MICEX index at 11.21 Moscow time increased by 1.65% to 1,788.07 points. The RTS index rose by 0.97% to 905.31 points.
At the end of last week, ITinvest expert Vasily Oleinik described the situation in the Russian stock market last week as follows:
Economic commentator at RBC-TV Zhanna Nemtsova analyzed the reasons for the decision of Moody's agency to lower Russia's rating, as well as the reaction of markets and investors to it:
That's all, thank you for your attention. More analytical materials from leading experts on the ITinvest website .
PS If you notice a typo, a broken link or other inaccuracy - write us a personal message and we will fix everything promptly.
Images: TASS, AFP (RBC), Reuters
The previous edition of the information digest can be found at this link .
')
Currency markets
The past week began with the fall of the ruble exchange rate during trading on the stock exchange - on February 24, the dollar and euro exchange rates jumped by more than 2 rubles compared to the close of the previous trading session. Thus, investors reacted to the decision of Moody's to downgrade Russia to the “junk” level (Ba1 with a negative outlook).
A day later it became known that the agency lowered the ratings of 11 Russian regions, including Moscow and St. Petersburg, however, the growth of oil prices and the sale of foreign currency earnings by exporters on the eve of tax payments led to the strengthening of the ruble - for the first time since December, the euro fell below 69 rubles .
The official dollar rate set by the Bank of Russia from February 28, 205 amounted to 61.2718 rubles (56.09 kopecks higher than the previous value), and the euro, by contrast, fell by 29.4 kopecks. - from February 28, it was determined by the Central Bank at the level of 68.6857 rubles.
Financial Times analysts estimate that in February the ruble strengthened against the dollar by 14.7%, which was the best indicator since 1993, although January was the worst month since 1998. The Central Bank did not conduct currency interventions last month. In the meantime, S & P warned of the threat of growth in the share of bad loans in Russia to 40%, and private clinics raised prices by 10% due to the devaluation of the ruble.
The new week began with a decline in oil prices - April futures for Brent crude on the London ICE Futures Exchange to 8.28 Moscow time fell $ 0.36 (0.58%) to $ 62.22 per barrel. Following the session on Friday, the value of these contracts rose by $ 2.53 (4.21%) and amounted to $ 62.58 per barrel. As a result, at the beginning of trading on the Moscow Stock Exchange fell to the dollar and the euro. By 10.19 Moscow time the dollar rate calculations "tomorrow" increased by 48 kopecks. up to 62.08 rubles; euro - 48 kopecks up to 69.38 rubles.
The situation in the oil market in his weekly review was described by the chief economist of ITinvest Sergey Egishyants:
The number of operating rigs, according to Baker Hughes, continued to fall - but not so aggressively: it’s true in the US - and in Canada the decline was 7.1% per week and 56.4% per year (more than double in 12 months) . Oil prices were twitching up and down - just like gas, which is now also cheap.
Meanwhile, the euro continues to weaken against the dollar. ITinvest analyst Dmitry Solodin believes that this week it is possible to reach the level of 1.08 for the EUR / USD currency pair:
Stock markets
Against the background of rising oil prices and the strengthening ruble, the Russian stock market showed an increase last week, however, a certain weakening of oil prices contributed to the closing of the last trading day in the red zone. The MICEX index fell by 0.1% on Friday 18:50 and amounted to 1,758.97 points, while the RTS index dropped by 1.68% to 896.63 points.
On Monday, March 2, Russian stock indexes rose at the opening of trading. The MICEX index at 11.21 Moscow time increased by 1.65% to 1,788.07 points. The RTS index rose by 0.97% to 905.31 points.
At the end of last week, ITinvest expert Vasily Oleinik described the situation in the Russian stock market last week as follows:
[...] The Russian market a little more than a week ago may have shown its annual maximums. If there are new highs this year, it is not much higher than the previous ones.
Why Moody's lowered the rating
Economic commentator at RBC-TV Zhanna Nemtsova analyzed the reasons for the decision of Moody's agency to lower Russia's rating, as well as the reaction of markets and investors to it:
That's all, thank you for your attention. More analytical materials from leading experts on the ITinvest website .
PS If you notice a typo, a broken link or other inaccuracy - write us a personal message and we will fix everything promptly.
Images: TASS, AFP (RBC), Reuters
Source: https://habr.com/ru/post/377021/
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