Russian stocks edge up on cbank’s decision, end of mobilization

MOSCOW, Oct 28 (PRIME) -- The Russian stocks ended the Friday trade with a slight increase as the central bank’s decision to keep the key rate flat supported the market as well as the latest news about conclusion of the partial military mobilization, analysts said.

The MOEX Russia Index rose 0.14% to 2,167.70 and the RTS increased 0.73% to 1,113.75.

“In the first half of Friday, the Russian stock market mainly corrected downward, but the situation changed right before the central bank’s decision. The Russian regulator left the key rate unchanged, and the market took it as a positive signal,” Andrei Kochetkov, leading analyst for global research at Otkritie Research, said.

He also said that the market mood was not as optimistic as in the last few days and was close to its resistance at 2,177.

“The Russian market managed to show a slight growth at the end of the day on Friday after fluctuating between the green and the red zone. Investors reacted moderately positively to the news about conclusion of partial mobilization in Russia that broke out right before the end of the main trade session,” Veles Capital analyst Yelena Kozhukhova said.

The conclusion of mobilization and reinvestment of gas giant Gazprom’s dividends should continue supporting the market next week if the geopolitical background remains relatively stable, Kozhukhova said.

The shares of fertilizer producer Acron grew by XX% to XX rubles on hopes that the sector would raise exports to Asia. President Vladimir Putin said on Thursday that Russia’s fertilizer exports to India jumped by 660%, she said.

Kochetkov also said that the securities of grocery retailer O’Key Group fell by XX% to XX rubles as the company’s revenue grew only by 10% on the year in July–September, showing that it still lagged behind the leading retailers.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.97	75.56	10.097
Gazprom	-0.91	130.50	6.198
VTB	-0.13	0.03834	2.551
Lukoil	+0.40	1880.10	1.298
Norilsk Nickel	0.0	6428.00	1.286

(61.3589 rubles – U.S. $1)

End