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Russian stocks rise on higher sovereign rating, positive environ

MOSCOW, Feb 11 (PRIME) -- The Russian stock market edged up on Monday as investors welcomed the upgrade of RussiaТs sovereign rating to the investment grade from a junk grade by international rating agency MoodyТs and European floorsТ positivity, analysts said.

The MOEX Russia Index grew 0.30% to 2,510.22 and the RTS rose 0.14% to 1,201.33.

УThe decision of MoodyТs agency to upgrade RussiaТs sovereign rating to the Baa3 investment grade was highly acclaimed by local traders. They even ignored the fact that U.S. legislators plan to consider new anti-Russian restrictions already on Tuesday,Ф Otkritie Broker analyst Andrei Kochetkov said.

Senior analyst at Promsvyazbank Bogdan Zvarich said that the domestic market was also supported by a positive environment on the European stock exchanges, but was pressured by decreasing crude prices with the Brent price seen more than 1% lower at around U.S. $60Ц63 per barrel.

Stocks of RussiaТs two largest lenders Sberbank and VTB Bank were among the top gainers adding 1.7% to 214 rubles and 1.27% to 0.0376 rubles, respectively.

Below are the MOEX Russia IndexТs five most active stocks on Monday:

Company Change, % Last price, rbl Trading volume, bln rbl
Sberbank +1.7 214 10.600
Gazprom +0.93 161.29 3.084
Lukoil +0.62 5419.5 2.305
Rosneft -0.27 410.5 1.439
Norilsk Nickel -0.22 13702 1.252

(66.0628 rubles Ц U.S. $1)

End

11.02.2019 19:37
 
 
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