Russian stocks close mixed on controversial market signals
MOSCOW, Jul 4 (PRIME) -- The Russian stock market edged down at the beginning of the trading session on Tuesday, but then managed to bounce back and recoup most of the losses, and finished the day mixed influenced by diverse market signals, analysts said.
The MOEX Russia Index grew 0.51% to 2,808.22 and the RTS decreased 0.55% to 987.43.
“The MOEX Russia and the RTS indices had managed to recoup most of their intraday losses by the end of the trading session, mainly, thanks to purchases in the energy sector and the ruble’s bounce-back from its local lowest,” Veles Broker analyst Yelena Kozhukhova said.
She also said that the ruble rebounded from its lowest level of more than 90 rubles per U.S. dollar and ended that day at around 88.85 rubles per U.S. dollar.
Oil companies Lukoil, Surgutneftegas’s preferred shares, and Gazprom Neft outperformed the market, rising by 2.89%%, 1.38% and 0.77%, respectively.
Western stock exchanges consolidated amid celebration of Independence Day and no trading in the U.S., while global crude prices’ growth accelerated to around 2%, she added.
Freedom Finance Global’s Senior Analyst Natalya Milchakova said that Russian President Vladimir Putin’s and Chinese President Xi Jinping’s speeches at a summit of the Shanghai Cooperation Organization leaders mentioning the states’ steps toward de-dollarization supported the ruble and created a moderately positive background for the stock market.
Below are the MOEX Russia Index’s five most active stocks on Tuesday:
Company | Change, % | Last price, rbl | Trading volume, bln rbl |
---|---|---|---|
Sberbank | -0.32 | 242.55 | 7.886 |
Lukoil | +2.89 | 5243 | 6.109 |
VTB Bank | +2.74 | 0.022695 | 3.936 |
Magnit | +0.72 | 5305 | 3.622 |
MTS | +2.08 | 293.8 | 2.648 |
(89.3255 rubles – U.S. $1)
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