Russian stocks fall on corporate news, profit taking

MOSCOW, Mar 31 (PRIME) -- The Russian stock market decreased on Friday amid corporate news and profit taking, analysts said.

The MOEX Russia Index fell 0.62% to 2,450.67 and the RTS decreased 0.96% to 996.76.

“The negative dynamics, most likely, are caused by technical correction after several days of growth, as well as corporate news, in particular, the publication of weak financial results by a number of issuers and the refusal of some companies to pay dividends,” Freedom Finance Global’s Senior Analyst Natalya Milchakova said.

According to management company Alfa-Capital’s senior trader Vladislav Silayev, investors decided to take profits at the end of the week.

The Russian stock market was down amid profit taking “near important resistances,” Veles Broker analyst Yelena Kozhukhova said.

The growth leader was Pharmsynthez supported by a recent presidential order to intensify import substitution in the pharmaceutical field, especially in terms of production of medicines to treat cancer, Milchakova said.

RussNeft shares soared on investors’ expectations of strong 2022 financial results.

The biggest fall was shown by Aeroflot shares over the board’s decision against paying 2022 dividends.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.63	215.5	16.521
RussNeft	+6.86	134	5.556
Gazprom	-1.17	169.7	4.833
Pharmsynthez	+13.22	8.48	3.024
Magnit	-0.01	4582.5	2.807

(77.0863 rubles – U.S. $1)

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