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Russian stocks mixed on negative background, ahead of new sanctions

MOSCOW, Apr 14 (PRIME) -- The Russian stock market closed with mixed dynamics on Friday as investors expect a new package of anti-Russian sanctions and external negative sentiment, analysts said.

The MOEX Russia Index rose 0.42% to 2,554.85 and the RTS closed the session flat at 982.94.

“The statistics service’s data on a sharp slowdown in Russia’s annual inflation to 3.5% in March was good enough news for the market. However, the forecasts of some global investment banks concerning a possible recession in the world this year somewhat dampened the mood of Russian investors,” Freedom Finance Global’s Senior Analyst Natalya Milchakova said.

Veles Broker analyst Yelena Kozhukhova said that the Russian stock market showed no significant changes waiting for decisions of major companies on dividends and a new package of the E.U. sanctions.

The growth in the market was limited by the adoption of the bill on electronic call-ups for military service, the analyst also said.

Norilsk Nickel shares, which rose to the highest since last September, were supported by reports of the company's intention to allocate up to 6 billion rubles to buy back about 407,000 shares for an employee incentive program, Kozhukhova said.

Novatek shares have risen to its peak since April 2022 supported by the positive impact from dividend expectations and hopes for the liquefied natural gas projects expansion.

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

Company Change, % Last price, rbl Trading volume, bln rbl
Sberbank +0.84 221.7 7.454
Lukoil -0.1 4608 3.915
Norilsk Nickel +2.38 15770 3.482
Polyus -0.99 9785 2.538
Gazprom -0.12 178.52 2.53

(81.6758 rubles – U.S. $1)

End

14.04.2023 19:42