BR100 Increased By (0.27%)
BR30 Increased By (0.15%)
KSE100 Increased By (0.15%)
KSE30 Increased By (0.01%)
BECO 5.92 Decreased By ▼ -0.11 (-1.82%)
BML 57.31 Increased By ▲ 4.56 (8.64%)
BOP 34.09 Decreased By ▼ -0.16 (-0.47%)
CNERGY 8.20 Increased By ▲ 0.04 (0.49%)
DCL 12.15 Decreased By ▼ -0.19 (-1.54%)
FCCL 53.88 Decreased By ▼ -0.01 (-0.02%)
FCSC 5.25 Increased By ▲ 0.03 (0.57%)
FFL 18.01 Decreased By ▼ -0.02 (-0.11%)
FNEL 1.31 Increased By ▲ 0.01 (0.77%)
HUMNL 11.23 Increased By ▲ 0.23 (2.09%)
KEL 8.17 Increased By ▲ 0.06 (0.74%)
KOSM 5.47 Increased By ▲ 0.09 (1.67%)
MLCF 88.79 Increased By ▲ 0.74 (0.84%)
NBP 186.50 Increased By ▲ 0.02 (0.01%)
PACE 10.96 Increased By ▲ 0.24 (2.24%)
PAEL 40.42 Increased By ▲ 0.48 (1.2%)
PIAHCLA 26.26 Increased By ▲ 0.09 (0.34%)
PIBTL 17.33 Increased By ▲ 0.01 (0.06%)
PPL 232.00 Decreased By ▼ -0.78 (-0.34%)
PRL 34.70 Decreased By ▼ -0.25 (-0.72%)
PTC 66.80 Decreased By ▼ -0.76 (-1.12%)
SEARL 91.45 Increased By ▲ 0.52 (0.57%)
SSGC 27.15 Decreased By ▼ -0.02 (-0.07%)
TELE 8.70 Increased By ▲ 0.13 (1.52%)
THCCL 65.35 Increased By ▲ 5.22 (8.68%)
TPLP 9.20 Increased By ▲ 0.44 (5.02%)
TREET 24.55 Increased By ▲ 0.01 (0.04%)
TRG 72.63 Increased By ▲ 0.88 (1.23%)
WAVES 10.70 Increased By ▲ 0.72 (7.21%)
WTL 1.26 No Change ▼ 0.00 (0%)
Markets

Russian rouble stable on tax payments support; stocks slide

Published September 26, 2016 Updated September 26, 2016 09:02am

imageMOSCOW: The Russian rouble was stable early on Monday, supported by end-of-month tax payments, but Moscow-listed stocks slid on downbeat investor sentiment ahead of the first U.S. presidential debate.

At 0737 GMT, the rouble was 0.1 percent weaker against the dollar at 64.15 and had lost 0.2 percent to trade at 72.07 versus the euro.

Russian firms are due to pay the mineral extraction tax, value-added tax and excise tax payments on Monday. Such large tax payments typically offer the rouble temporary support as exporters sell a portion of their forex revenues to accumulate the necessary amount of roubles.

The dollar-denominated RTS share index was down 1.3 percent to 980 points on Monday, while the rouble-based MICEX was 0.7 percent lower at 1,997 points.

Russian shares were also pricing in steep falls in oil prices on Friday which occurred after the trading session for equities had ended on the Moscow Exchange.

Among factors likely to move Russian assets this week, Rosbank analysts highlighted an informal meeting of OPEC oil producers in Algeria, the Monday evening debate between U.S. presidential candidates Donald Trump and Hillary Clinton, and increased tension over the Syria conflict.

The OPEC meeting will set the tone for prices for oil, Russia's main export.

Crude oil benchmark Brent was up 0.5 percent on Monday at around $46.1 a barrel after Algeria's energy minister said all options were possible for an oil output cut or freeze at this week's OPEC meeting.

Global markets began the week under a cloud after losses on Wall Street on Friday.

Copyright Reuters, 2016

Comments

Comments are closed for this article.