Alarming signal: bank shares turned down again

Russian stock indices are down at the opening of Thursday's main session. The ruble is also falling amid rising geopolitical tensions after news from the Russian media about shelling in the LNR.

On Wednesday, Western media outlets, particularly Bloomberg, citing the Biden administration, again published material accusing Russia of maintaining an impressive position on the border.

The shares of Russian state banks, which are sensitive to the sanctions risks, obviously react to this news: (-3%), VTB (-2.8%). However, the heavyweights of the Russian oil and gas industry also suffer noticeable losses despite still high oil price levels: LUKOIL (-1.6%), (-2%).

Growth stocks, Internet companies are also among the leaders of the decline: TCS (-4.6%), (-4%), VK (-2.7%).

Individual representatives of the second or third echelon are growing.

The persistence of high oil prices, gold prices and low rates on protective U.S. government bonds suggests that market participants have not yet fully priced in the reduction of military risks.

The external background this morning is moderately negative. S&P 500 futures are down 0.4%. APR indices show multidirectional dynamics. Brent crude oil is down 1.4% to $93.5 per barrel Brent.

The ruble is getting cheaper on the news of the shelling. The EUR/RUB exchange rate rose to 85.9 (+0.2%). The USD/RUB pair is at 75.6 (+0.5%).

At the same time, the government bond index RGBI (+0.1%) has been rising for the third day in a row. However, it still has not recouped even Monday's losses, let alone Friday's levels, when the Bank of Russia outlined new forecasts for the key rate.

Leaders: Levenguc (+7%), Izhstal-up (+2.8%), Izhstal-ao (+2%), SMZ (+2.2%), Cherkizovo (+1.6%)

Outsiders: TCS (-4.6%), Yandex (-4%), Sistema (-3%), Sberbank-ao (-3%), VTB (-2.8%), VK (-2.7%)