MOSCOW, Jun 5 (PRIME) -- The Russian stock market edged up only slightly on Friday as investors were careful despite a global rally, analysts said.
The MOEX Russia Index grew 0.96% to 2,792.74 and the RTS rose 2.26% to 1,285.78.
“The MOEX Russia and the RTS indices grew, but stayed below the psychologically important levels of 2,800 and 1,300… The inability to break through the important resistance levels signals that the bulls are not confident,” Veles Broker analyst Yelena Kozhukhova said.
Meanwhile, the global markets saw a rally on Friday thanks to extremely positive U.S. employment data, she also said. The U.S. and European benchmarks rose around 2–5%, and the oil price added nearly 4.5–5% on the news that Nigeria and Iraq are ready to adhere to crude production quotas.
Technically, risky assets have some upside, but they look overvalued in fundamental terms so buyers operate carefully on emerging markets including Russia, she added.
Otkritie Broker analyst Andrei Kochetkov said that metals giant Norilsk Nickel recovered from previous losses rising 2% to demonstrate that no fundamental changes to the company’s business are expected after the diesel fuel spill emergency.
He also said that national flagship carrier Aeroflot grew 4.47% on the news Sberbank has restructured the airline’s leasing obligations.
Below are the MOEX Russia Index’s five most active stocks on Friday:
| Company | Change, % | Last price, rbl | Trading volume, bln rbl |
|---|---|---|---|
| Norilsk Nickel | +2 | 20400 | 24.632 |
| Sberbank | +2.82 | 219.1 | 19.225 |
| Gazprom | +0.79 | 203.05 | 9.103 |
| Lukoil | +0.55 | 5460 | 6.684 |
| Rosneft | +3.05 | 401.95 | 4.616 |
(69.0151 rubles – U.S. $1)
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