Russian stocks close higher on rising oil prices, falling ruble - 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

Russian stocks close higher on rising oil prices, falling ruble

MOSCOW, Apr 17 (PRIME) -- The Russian stock market grew on Monday with the shares receiving support from high oil prices and promises of dividends, while the recent weakening of the ruble continued to add momentum to the shares of some companies, analysts said.

The MOEX Russia Index rose 1.61% to 2,596.11 and the RTS increased 2.21% to 1,004.62.

УOn Monday, the Russian stock market rose consistently throughout the day Е Good news came from the oil market. International media reported that the price of the Urals oil blend jumped by 40% to U.S. $61.5 per barrel over the past month, while the Brent oil price gained only 18% in the period,Ф Freedom Finance Global leading analyst Natalya Milchakova said.

This discrepancy shows that demand for Russian oil is still high in the world and that the Russian government was right in reducing the Urals price discount against the Brent price from April 1. It may have a positive impact on energy revenue of the Russian budget, she said.

Sofya Kirsanova, portfolio manager at managing company Pervaya, said that promises of dividend payment by some companies also stimulated purchases.

УThe Beluga shareholders approved a final dividend payment for 2022 at 400 rubles per share, meaning the current dividend yield amounts to around 8.6%,Ф Kirsanova said.

Alcohol producer Beluga Group gained 1.43% to 4,553 rubles.

УWe should note that the market grew thanks to the weak ruble to a large extent. Certainty that the Russian currency will correct is decreasing as the U.S. dollar stabilizes above 80 rubles,Ф Otkritie ResearchТs leading analyst for global research Andrei Kochetkov said.

УThis is why the commodity stocks like Gazprom, Lukoil, Rosneft, and gold producers are popular.Ф

He also said that the international gold prices rose on expectations of a reform of the global currency system, which provides additional support to the shares of Russian gold companies. Polyus grew by 5.37% to 10,363.50 rubles, Seligdar went up by 2.16% to 50.63 rubles, and the preferred shares of Lenzoloto added 1.71% to 3,570 rubles.

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

Company Change, % Last price, rbl Trading volume, bln rbl
Sberbank +2.15 226.63 14.412
Polyus +5.37 10363.50 5.712
Gazprom +1.15 181.57 4.355
VTB +3.66 0.01938 3.435
Lukoil +0.69 4650.00 2.497

(81.5045 rubles Ц U.S. $1)


17.04.2023 19:12
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 104.3024 +0.2403 05 oct
USD 99.4555 +0.1878 05 oct
Stock Market Indices
1D 1W 1M 1Y
micex 3154.97 +0.35 18:50 04 oct
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 165.50 -0.75 18:27 04 oct
lkoh 6740.00 -0.21 18:27 04 oct
rosn 543.10 +0.78 18:27 04 oct
sber 258.85 -0.31 18:27 04 oct
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 104.1000 +0.3475 14:59 04 oct
USDTD 99.6875 +0.4300 17:44 04 oct