Russian stocks edge up supported by positive environment
MOSCOW, Jan 11 (PRIME) -- Russian stocks firmed on Friday supported by a favorable external background as international investors still hope for a positive outcome of a U.S.ЦChina trade war, analysts said.
The MOEX Russia Index rose 0.42% to 2,444.45 and the RTS increased 0.56% to 1,148.75.
УIn spite of an ongoing shutdown of the U.S. governmentЕthe of the stock market players was moderately positive or neutral. Investors wish to believe more in a further de-escalation of the trade war between China and the U.S. as they think that the Congress will coordinate a new budget eventually. The current show in the U.S. politics is no threat to the countryТs economy or ratings,Ф Vasily Oleinik, investment company FinamТs expert, said.
Veles Broker analyst Yelena Kozhukhova said that the market situation today was favorable for short-term УbullishФ purchases as the U.S. Treasury confirmed its intent to soften sanctions against aluminum giant UC RUSAL, multi-industry holding En+ Group, and affiliates.
RUSAL gained 3.95%, while En+ Group rose 8.35%.
The Russian stock market could have grown more, but the upward movement was restrained by a negative start of trade in the U.S., where the major indices lost 0.3Ц0.5% at the beginning of the day due to weak sales data from some retailers and reduction of revenue guidance from several companies. The Brent oil price also slid about 1.5%, Kozhukhova said.
Andrei Kochetkov, analyst at Otkritie Broker, said that the shares of the Moscow Exchange rose 3.90% in the day as the bourse published a strong operating report for 2018 on Thursday.
Below are the MOEX Russia IndexТ five most active stocks on Friday:
|Company||Change, %||Last price, rbl||Trading volume, bln rbl|
(66.8605 rubles Ц U.S. $1)