Russian stock market rises on corporate news, global background

MOSCOW, Feb 1 (PRIME) -- The Russian stock market closed with positive dynamics on Wednesday on favourable global background and some corporate news, analysts said.

The MOEX Russia Index rose 0.20% to 2,230.15 and the RTS increased 0.12% to 1,002.47.

“The growth on the Russian market was due to the positive external background, as well as the growth of certain issuers, which grew on the corporate news,” Dmitry Postolenko, head of managing company Pervaya’s department for fixed income securities management, said.

The MOEX Russia Index during the day closely approached the mark of 2,255, but could not test it as the correction began, the analyst added.

“The Russian stock market on Wednesday retreated from the highs of the day due to profit taking on many previously rising shares,” Veles Broker analyst Yelena Kozhukhova said.

The ruble was weakening against the dollar, the euro and the yuan at the stock market in the evening, fluctuating not too far from the lows of this year, the analyst also said.

Freedom Finance Global’s Senior Analyst Natalya Milchakova said that Acron shares were the leadersof the growth on the back of cheaper gas needed for fertilizer production and Sovcomflot continued to rise on its financial results for January–September 2022.

KAMAZ shares were supported by the company's announcement about the absentee voting of the board of directors on the approval of some major deal, the analyst added.

Below are the MOEX Russia Index’ five most active stocks on Wednesday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.54	157.22	9.311
Polyus	-1.14	9370	7.969
Yandex	-0.11	2045	3.347
Sovcomflot	+3.96	47.3	2.043
Gazprom	+0.25	158.49	1.978

(70.5174 rubles – U.S. $1)

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