Russian stock market closes mixed as ruble strengthens
MOSCOW, Oct 23 (PRIME) -- The Russian stock market ended the main trading session with mixed dynamics on Monday amid the strengthening ruble, analysts said.
The MOEX Russia Index fell 0.17% to 3,263.68 and the RTS increased 0.91% to 1,091.16.
“The main factor of the trading day was further strengthening of the ruble. A stronger ruble reduces the ruble profit of exporters, whose shares were under pressure,” Otkritie Research analyst Andrei Kochetkov said.
The trend towards strengthening of the Russian currency may continue during the week, as the trend on the currency market has changed, after the decree on compulsory sale of foreign currency proceeds was signed, the analyst added.
According to Sofya Kirsanova, portfolio manager at managing company Pervaya, the medium-term uptrend remains relevant, and some decline is due to sell-offs on the oil market and global markets.
“The ongoing tax period in Russia is confidently supporting the ruble's position. This time, exporting companies are selling more foreign currency earnings than before and buying rubles to pay taxes,” Senior Trader at managing company Alfa-Capital Vladislav Silayev said.
Below are the MOEX Russia Index’ five most active stocks on Monday:
Company | Change, % | Last price, rbl | Trading volume, bln rbl |
---|---|---|---|
Sberbank | +0.41 | 270.9 | 15.503 |
VK | +0.39 | 662 | 6.18 |
Lukoil | -0.15 | 7,480 | 5.911 |
Mechel | +1.1 | 258.03 | 4.532 |
Magnit | +2.28 | 5,972 | 3.819 |
(95.9053 rubles – U.S. $1)
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