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Russian stocks grow on Lukoil dividend news

MOSCOW, Apr 20 (PRIME) -- The Russian stock market increased on Thursday after correcting downwards in the first half of the day as a negative trend on the external markets was balanced by the news about Lukoil's dividends, analysts said.

The MOEX Russia Index grew 1.20% to 2,637.85, and the RTS index increased 1.39% to 1,018.60.

"In the morning, the Russian market continued yesterday's decrease. Investors seem to have decided to take profits after growth over the previous sessions because the negative dynamics on the external floors, weakness of the energy prices and the geopolitical news did not favor a positive mood on the Russian stock market," Finam analyst Anna Builakova said.

"However, the situation gradually improved and became positive after the news from Lukoil," Otkritie ResearchТs leading analyst for global research Andrei Kochetkov said.

The board of directors of Lukoil recommended paying 438 rubles per common share in dividends for 2022.

The foreign markets were predominantly in the red zone after a decrease of the U.S. floors on Wednesday. The Federal Reserve System Beige Book indicated a lack of economic activity growth at the end of March and the beginning of April. Investors in Europe were concerned with a stubbornly high inflation, the analyst said.

Yelena Kozhukhova from Veles Capital said that foreign investors started profit taking ahead of the meetings of the key central banks in May and amid a reporting season.

The Brent and WTI futures fell by about 2% in the middle of the Russian session to U.S. $79.89 and $75.68 respectively, Kozhukhova said.

Mechel corrected downwards 2.09% after a surge in the previous several sessions, the analyst said.

Freedom Finance Global analyst Natalya Milchakova said that Yandex was among the leaders because of central bank's plan to launch beneficial lending for high-tech companies.

Severstal was among the market outsiders falling by 1.15% after reporting an 8% steel output decrease on the year in JanuaryЦMarch, Kozhukhova said.

According to Builakova, Aeroflot continued to rise, adding 2.3% after the Transport Ministry asked for subsidies for the Russian airlines for the summer season.

Kochetkov said that TMK disappointed investors by refusing to pay dividends for 2022 and dove 9.77%.

Metals producers were in the red zone because of a strengthening of the ruble, the analyst said.

Below are the MOEX Russia IndexТ five most active stocks on Thursday:

Company Change, % Last price, rbl Trading volume, bln rbl
Sberbank +1.22 235.79 16.603
Lukoil +4.86 4760 15.998
Gazprom +0.11 182.21 6.319
VTB +3.65 0.02002 4.560
Yandex +5.12 2091.4 3.496

(81.6549 rubles Ц U.S. $1)


20.04.2023 19:12
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