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Russian stocks mixed on oil prices fluctuations

MOSCOW, May 4 (PRIME) -- The Russian stock market closed mixed on Thursday with the MOEX Russia Index decreasing and the RTS index rising after a speech by the U.S. Federal Reserve System (Fed) chairman triggered an upward oil price correction, but then the prices returned to a decrease, analysts said.

The MOEX Russia Index eased by 0.31% to 2,524.51, and the RTS index rose by 1.01% to 1,018.72.

"The external background was mixed on Thursday. The oil prices grew after a significant three-day decrease, while negative dynamics prevails on the global markets," Ivan Kapustyansky, analyst at managing company Pervaya, said.

The Fed raised the key rate by 0.25 percentage points and signaled a possible pause in further increases. The market reaction was mixed, but the prices for the Brent oil blend grew above U.S. $72 per barrel, the analyst said.

Dmitry Postolenko, head of managing company PervayaТs department for fixed income securities management, said that the positive trend was short-lived sinking the MOEX Russia Index.

Veles Capital analyst Yelena Kozhukhova said that corporate stories supported the Russian market.

Mechel returned to growth on media reports about a rise of Russian coking coal exports by 44% in JanuaryЦMarch thanks to high demand in China and India.

According to Kapustyansky, the metals, oil chemistry and consumer sector were the market leaders.

Aeroflot fell 2.76% on reports about cutting the number of flights on the national routes as state subsidies were reduced.

Acron closed flat after publishing a 64.3% net profit dive in JanuaryЦMarch, as calculated under Russian Accounting Standards, Kozhukhova said.

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

Company Change, % Last price, rbl Trading volume, bln rbl
Sberbank +0.61 237.21 11.294
VTB -0.86 0.020775 3.671
Gazprom -0.19 172.55 3.207
Polyus +1.8 10505 2.598
Mechel +4.38 174.91 2.578

(79.3071 rubles Ц U.S. $1)


04.05.2023 19:16
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