Russian stocks grow on corporate news, milder geopolitical risks

MOSCOW, Mar 3 (PRIME) -- The Russian stock market demonstrated mixed dynamics during the day on Friday, but then turned to growth as investors’ geopolitical worries failed to realize, analysts said. 

The MOEX Russia Index grew 0.79% to 2,272.2 and the RTS increased 0.3% to 945.41.

“Growth replaced mixed dynamics in the second half of the main trading session on the Moscow Exchange on Friday,” Freedom Finance Global’s Senior Analyst Natalya Milchakova said.

Veles Broker analyst Yelena Kozhukhova said that the Russian stock market finished the day with restrained optimism as investors failed to receive the anticipated negative geopolitical signals.

Milchakova said that some second-tier shares again outperformed the entire market. Preferred shares of confectionery producer Krasny Oktyabr jumped by 7.38%, coal company Belon surged by 24.84%, and Chelyabinsk Forge and Press Plant added 11.38%.

Fertilizers producer PhosAgro was one of the best performers among the blue chips. The stock grew by 4.61% after publication of a sound IFRS financial report for 2022, she added.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.34%	170.3	6.781
PhosAgro	+4.61%	7030	3.316
Gazprom	+0.56%	161.8	3.083
Belon	+24.84%	21.735	3.019
ALROSA	+2.91%	62.21	1.713

(75.4729 rubles – U.S. $1)

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