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Stocks rise despite investor concerns about possible sanctions

MOSCOW, Mar 13 (PRIME) -- The Russian stock market traded mixed on Tuesday due to rising political tensions between Russia and Western states, but closed slightly higher supported by local corporate events, analysts said.

The MOEX Russia Index edged up 0.06% to 2,319 and the RTS grew 0.2% to 1,285.8.

УA new geopolitical risk has appeared which scares investors off the Russian stock marketЕ British Prime Minister Theresa May saidЕ the U.K. may take more extensive measures against Russia (in the wake of poisoning of former spy Sergei Skripal). The risks of new U.S. sanctions have not lessened, too,Ф Vasily Oleinik, investment company Finam analyst, said.

He added that the situation promises nothing good for the domestic stock market.

Otkritie Broker analyst Andrei Kochetkov said that metals traded lower after U.S. President Donald Trump announced tariffs on imported steel and aluminum but with УflexibleФ exemptions for the U.S. allies. Magnitogorsk Iron and Steel Works (MMK) fell 1.16% to 46.15 rubles, Norilsk Nickel dropped 0.5% to 11,101 rubles and steel maker Severstal lost 0.17% to 884.5 rubles.

RussiaТs largest children goods retailer Detsky Mir was among the best performers gaining 5.26% to 95 rubles on the news its shareholders Sistema and the RussiaЦChina Investment Fund (RCIF) cancelled its secondary public offering (SPO).

Kochetkov said that national flag carrier Aeroflot outperformed the market on the news that its passenger traffic increased almost 5% on the year in February. The stock added 3.05% to 163.7 rubles.

Financial group Safmar and precious metals maker Polymetal were also among the top gainers, the stocks added 3.66% to 751.5 rubles and 3.65% to 627 rubles, respectively.

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

Company Change, % Last price, rbl Trading volume, bln rbl
Sberbank -0.13% 273.95 9.497
Gazprom +0.99% 142.75 3.254
Magnit -2.02% 5050 2.644
Aeroflot +3.05% 163.7 2.102
Lukoil +0.08% 3773 1.910

(56.6122 rubles Ц U.S. $1)

End

13.03.2018 19:28
 
 
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