By the end of trading session, further reducing the MICEX index was unlikely
By 14:53 Moscow time the MICEX index falls to 2.1% value of 956.56 r.Maksimalnoe decline observed in the oil and gas sector (-2.3%), less than the rest falling steel sector (-1%).
index of large capitalization falls by 1.98%, the average market capitalization - on 1,62%, a small market capitalization - on 1,38%.
The head of Russia Ministry of Economic Development E. Nabiullina said that the margin of banks should not exceed 3%. This means that the program on small business lending the money, provided through GC Vnesheconombank under 10,5-10,7% per annum shall extend to small business is not more expensive than a 14% per annum.
Rating agency Moody's downgraded the ratings of financial stability subsidiaries OAO Bank VTB: VTB Bank (Austria), VTB Bank (France) and VTB Capital. Prognosis negative ratings.
Bank of Moscow has raised rates on deposits within 1%.
OAO Rosbank also increased interest rates on deposits up to 2%.
The August crude oil futures traded on the NYMEX, falling to 0.32%, trading at 66.52 U.S. $ /barrel. September futures for the SP 500 index, traded on the CME, in the black at 0.11% and traded at U.S. $ 894.25
The sharp fall in prices of oil futures over the past 3 days with 73doll./barrel to 67doll./barrel, ie more than 8% led to a sale on the Russian stock market. In general, the level of oil prices today could be called comfortable for domestic oil companies. When you save the current price levels in the Russian oil market has sufficient growth potential to halt its downturn.
By the end of trading session, a further reduction in the MICEX Index considers it unlikely.
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