Russian stocks rise on favorable environment, low mortgage rates - All News - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Russian stocks rise on favorable environment, low mortgage rates

MOSCOW, Jun 23 (PRIME) -- The Russian stock market grew on Thursday supported by a favorable external background, while the shares of banks and real estate developers increased on prospects mortgage rate cuts, analysts said.

The MOEX Russia Index rose 1.31% to 2,404.54 and the RTS increased 0.93% to 1,416.41.

УThe foreign stock market mood was moderately optimistic caused by a usual upward correction after serious sales,Ф Veles CapitalТs analyst Yelena Kozhukhova said.

The background for the market was positive as the Brent oil price switched to growth in the middle of the day on worries about supply restrictions, while the futures for the U.S. stock indices gained around 0.3%, she said.

The securities of real estate developers were the market leaders with PIK Group gaining 9.76% to 691.50 rubles and Etalon Group rising by 3.66% to 60.54 rubles on expectations of lower interest rates on state-supported mortgage loans, which should expand demand for housing, Kozhukhova said.

УThe national stock market managed to maintain the upward movement until the end of trade on June 23. The market is still under a serious impact of local factors and corporate stories, and today, the shares of real estate developers provided the main positive impact,Ф Yevgeny Linchik, head of the stock management department at managing company Pervaya, said.

Otkritie Research leading analyst Andrei Kochetkov said that expectations of higher mortgage lending also resulted in the purchases of banking shares. VTB Bank Deputy CEO Anatoly Pechatnikov said that the new low interest rates on state-supported mortgage loans may double the average monthly mortgage lending in the several coming months. Sberbank grew by 2.81% to 136.85 rubles, while VTB Bank increased by 0.41% to 0.018585 rubles.

Below are the MOEX Russia IndexТ five most active stocks on Thursday:

Company Change, % Last price, rbl Trading volume, bln rbl
Sberbank +2.81 136.85 14.710
Gazprom +2.60 303.50 13.868
Lukoil +0.27 4150.00 2.734
Novatek -1.56 1010.00 2.656
Norilsk Nickel +0.84 19100.00 1.322

(53.2788 rubles Ц U.S. $1)

End %%md/jst%%

23.06.2022 19:12
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 64.3260 +4.1642 07 jul
USD 62.9110 +4.3992 07 jul
Stock Market Indices
1D 1W 1M 1Y
micex 2221.88 -0.21 18:51 06 jul
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 195.64 -0.84 18:34 06 jul
lkoh 4015.00 0.00 19:00 06 jul
rosn 371.50 0.00 23:50 06 jul
sber 133.50 0.00 18:49 06 jul
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 63.7500 +1.6700 14:59 06 jul
USDTD 61.2725 +7.5550 17:44 06 jul