MOSCOW, Dec 29 (PRIME) -- The Russian stock market edged down inconsiderably on Friday in light of low investors’ activity and trading volumes ahead of the lengthy New Year holidays, analysts said.
“The Russian stock market stayed slightly in the negative territory closer to the end of the trading session on Friday, consolidating not far from its short-term resistance lines,” Veles Broker analyst Yelena Kozhukhova said.
“In December the MOEX Russia and the RTS indices lost around 2%, and in the whole of the year, the ruble-denominated index jumped by 44%, and the U.S. dollar-denominated one grew by 12.4%. Ruble devaluation contributed much to the growth,” she added.
Kozhukhova said that rail cargo operator Globaltrans and metals and mining group Mechel were among top 5 best performers of the MOEX Russia Index this year surging by 137.6% and 195%, respectively thanks to expanding trade between Russia and China.
Otkritie Research analyst Andrei Kochetkov said that investors’ activity was seen very low on Friday because of a scarce newsflow.
Qiwi Group, comprising payment system operator Qiwi and Qiwi Bank, GlobalTrans, realty developer PIK Group, X5 Retail Group, and pulp and paper producer Segezha were among the best performers, he added.
Kozhukhova also said that the nearest Brent and WTI crude futures added around 0.5% at the end of the Russian trading session, but are finishing the year around 10% lower.
(90.3041 rubles – U.S. $1)
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