Konstantin Vladimirovich Tserazov: “The market still has growth potential in September”

According to the expert, the growth of the Moscow Exchange index was facilitated by the weak ruble, the opening of financial statements, announcements of companies about the payment of dividends and corporate news. At the end of August, the Moscow Exchange index added 5%, the RTS index registered a modest increase of 0.16%. The growth leaders were companies in the transport sector, which added 17.2%, and the information technology sector, which showed an increase of 10%.

In August, the weakening trend of the ruble continued, which in the first half of the month reached new lows, breaking through the psychologically important mark of 100 rubles/dollar. At an extraordinary meeting of the Bank of Russia on August 15, the regulator raised the key rate immediately to 12%. However, there was no significant strengthening of the ruble; by the end of the month, the domestic currency was trading in the range of 95-97 rubles/dollar.

According to Otkritie Bank analysts, in August the ruble lost 5% against the dollar and 3.6% against the euro. The next meeting at which the Bank of Russia will consider the rate issue will take place on September 15, reminds Konstantin Tserazov. Quotes of Brent oil, against the backdrop of expectations of continued production cuts by Russia and Saudi Arabia and hopes for a recovery in demand in China, updated annual highs in August, adding about 1.5% in August.