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Russian stocks grow on foreign markets' increase, flat oil prices

MOSCOW, Apr 18 (PRIME) -- The Russian stock market increased on Tuesday after a jittery session caused by the indices' closeness to resistance as the foreign markets rose, and the oil prices demonstrated a marginal dynamics, analysts said.

The MOEX Russia Index grew by 0.75% to 2,615.62, and the RTS index rose 0.62% to 1,010.87.

"The Russian market hit a new record since last year in the first half of the day on Tuesday, then a much expected profit taking set in," According Otkritie ResearchТs leading analyst for global research Andrei Kochetkov. "By the middle of the trading session on Tuesday, investors on the Moscow Exchange returned to purchases," management company Alfa-CapitalТs senior trader Vladislav Silayev said.

According to Veles Broker analyst Yelena Kozhukhova, the foreign stock market mood was positive, as the macroeconomic and financial reports pointed to a mostly positive state of the European and U.S. economies. As a result, the Euro Stoxx 50 index added about 0.8%, the U.S. S&P 500 added 0.4%.

Freedom Finance Global analyst Vladimir Chernov said that the Brent price decreased by 0.24% to U.S. $84.58 per barrel in the middle of the Russian session. As of 3:20 p.m., GMT, the Brent futures fell 0.024% to $84.74, according to the ICE Exchange.

X5 Retail Group increased 4.47% after reporting a net revenue rise by 15.3%, like-for-like sales by 6.5%, retail space by 7.9% in JanuaryЦMarch. The company also said that it is ready to sign a deal to buy group of companies Tamerlan working under several retail store brands in Russia's south.

VK's shares rose 0.92% on the news that the company bought a real estate firm in Moscow.

Kozhukhova said that Mechel soared on the back of a release of statistics in China for JanuaryЦMarch indicating a 4.5% rise of the economy, which signals retention of a high demand for coal.

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

Company Change, % Last price, rbl Trading volume, bln rbl
Sberbank +1.44 231.39 19.612
Gazprom +1.1 184 6.975
Mechel +7.39 195.19 4.910
Lukoil -0.56 4614 3.518
Polyus +0.24 10378.5 2.940

(81.6279 rubles Ц U.S. $1)


18.04.2023 19:16
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