The Russian equity market contracted marginally last week, facing limited pressure from the widespread decline in global equities.
The Russian stock market finished ahead over during last week, despite amendments to US sanctions being signed by President Trump. The main contributing factors were further oil price increases coupled with rises in other commodity prices. Base metals and steel prices are rising on the back of increasing confidence in the recovery in global economic growth.
The Russian equity market contracted slightly last week mainly due to negative sentiment regarding the approval by the US Senate of legislation that could restrict sanctions against Russia, should the legislation be signed by Donald Trump.
The Russian equity market edged down last week following the decline in oil prices as Brent crude fell by 2.4% in USD terms over the week.
The Russian equity market finished ahead last week in US dollar terms, mainly on the back of the price of Brent crude rising by 4.4% in USD terms over the week.
The Russian equity market edged down slightly in USD terms last week due to a decline in oil prices, with Brent crude dropping by 3.5% in US dollars terms.
The Russian equity market rose last week due to a rebound in oil prices. Brent crude rose by 6.8%, likely due to weak statistics in the US: industrial services company Baker Hughes reported a fall in the oil-rig count and the US Energy Information Administration reported a production decline of 0.1 million barrels per day, marking the biggest drop since July 2016.