Investment grade rating from S&PТs drives Russian stocks higher - News Archive - 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

Investment grade rating from S&PТs drives Russian stocks higher

MOSCOW, Feb 26 (PRIME) Ц Russian stocks rose on Monday propelled by an increase of the countryТs rating to an investment grade by Standard & Poor's, analysts said.

The MOEX Russia Index rose 0.70% to 2,353.16 and the RTS increased 1.81% to 1,324.62.

УS&P increased RussiaТs rating to an investment grade from junk, and now two out of the three major international rating agencies rate Russia at BBB-. It is an obviously positive sign for all Russian assets, but very few people doubted the decision, so the emotional reaction to the event will be priced during just one day,Ф Vasily Oleinik, an expert at investment company Finam, said.

Vitaly Manzhos, a senior risk manager at investment company Nord Capital, said that the local stock indices also priced in a February 23 increase in oil prices, when the Russian market was closed for a national holiday.

Andrei Kochetkov, an analyst at Otkritie Broker, said that the background for the Russian market was positive during the day as European floors were in the green zone thanks to the February 23 growth of the U.S. market and to a slight increase of futures for the S&P 500 index.

УShares of producing and technology companies made the major contribution to the rise of the European indices. Of course, the general positive background was supported by the fact that the yield on U.S. 10-year treasuries is not rising, but fell to 2.86% on Monday,Ф Kochetkov said.

Kochetkov also said that the mood of local traders was positive as they expect positive financial reports of Russian companies later in the week.

RussiaТs second largest bank VTB was one of the leaders with shares rising 5.57% to 0.05463 rubles following publication of a robust 2017 report.

The countryТs top bank Sberbank rose by 0.89% to 279.97 rubles and Kochetkov said investors expect the bank to publish a positive financial report later in the week, which also supported the shares.

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

Company Change, % Last price, rbl Trading volume, bln rbl
Sberbank +0.89 279.97 19.104
Magnit -6.56 4803.00 7.209
VTB +5.57 0.05463 5.652
Gazprom +0.71 147.00 5.514
Norilsk Nickel +4.34 11874.00 4.719

(56.7608 rubles Ц U.S. $1)


26.02.2018 19:12
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 71.5307 -0.2966 14 sep
USD 64.4711 -0.7198 14 sep
Stock Market Indices
1D 1W 1M 1Y
rtsi 1365.60 +0.33 18:40 13 sep
micex 2786.22 -0.49 18:40 13 sep
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 231.60 -0.55 16:49 13 sep
lkoh 5351.50 -1.44 16:49 13 sep
rosn 409.55 -0.61 16:49 13 sep
sber 232.92 -0.70 16:49 13 sep
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 71.1700 -0.6750 14:59 13 sep
USDTD 64.8000 -0.6025 17:44 13 sep