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Russian stocks rise on strong ruble, growing oil prices

MOSCOW, Nov 20 (PRIME) -- The Russian stock market increased on Monday amid the strengthening ruble, growing oil prices and corporate news, analysts said.

The MOEX Russia Index rose 0.03% to 3,207.36 and the RTS increased 1.82% to 1,142.51.

УThe MOEX Russia Index ended trading near the level of the end of last week. It still has few drivers for growth. The ruble continues to strengthen. This has a negative impact on sentiment regarding the expected financial results of Russian exporters,Ф managing company PervayaТs portfolio manager Sofiya Kirsanova said.

At the same time, the rising oil prices, as well as the ongoing corporate reporting, offset the effect of the ruble strengthening, she also said.

Otkritie Research expert Andrei Kochetkov said that†the Russian market tried to grow in the first half of the day, but the sharp strengthening of the ruble impeded this attempt.

УThe Russian stock market on Monday retreated from the lows of the day by the end of the main trading session and tried to develop growth thanks to the ruble and corporate stories,Ф Veles Capital analyst Yelena Kozhukhova said.

The depository receipts of Rusagro outperformed the market today increasing 7.02% for no apparent reason.

According to Natalya Milchakova from Freedom Finance Global, the receipts grew possibly due to investor interest in shares of the Russian agricultural and consumer sector.

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

Company Change, % Last price, rbl Trading volume, bln rbl
Mechel -3.49 316.4 9.938
Sberbank +0.44 282.84 6.58
Lukoil -0.2 7211 2.847
Mechel prefs -2.86 363.9 2.793
Surgutneftegas -0.76 58.55 2.107

(89.1237 rubles Ц U.S. $1)

End

20.11.2023 19:31
 
 
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