Russian stocks edge up backed by local corporate optimism
MOSCOW, Feb 13 (PRIME) -- Metals and mining stocks propelled the Russian stock market up on Tuesday as investors anticipated higher demand for metals from the U.S., while diamond company ALROSA reported robust January output figures, analysts said.
The MOEX Russia Index grew 1.37% to 2,250.63 and the RTS rose 1.72% to 1,226.92.
УAll metals companies reacted positively to the U.S. administrationТs initiatives to upgrade infrastructureЕ Most blue chips demonstrated material growth, which can be seen as a signal to a generally good attitude to RussiaТs market,Ф Otkritie Broker analyst Andrei Kochetkov said.
The U.S. President Donald Trump unveiled an ambitious proposal to renew local infrastructure as part of a budget.
Steelmaker Novolipetsk Steel (NLMK) surged 3.54% to 148.79 rubles, Norilsk Nickel soared 3.17% to 11,500 rubles and metallurgic giant Severstal added 3.08% to 941.6 rubles driving the market up to offset a worsening global environment and crude sliding to a U.S. $62 per barrel mark.
Vitaly Manzhos, senior risk manager at investment company Nord Capital, said that ALROSA grew 1.3% to 85.9 rubles on the news it increased diamond output almost 40% on the year in January.
Below are the MOEX Russia IndexТs five most active stocks on Tuesday:
|Company||Change, %||Last price, rbl||Trading volume, bln rbl|
(58.0171 rubles Ц U.S. $1)