Russian stocks mixed on ruble strengthening

MOSCOW, Mar 23 (PRIME) -- The Russian stock market closed mixed on Thursday, with the ruble-denominated MOEX Russia Index decreasing and the dollar-denominated RTS index rising on the back of a strengthening ruble, analysts said.

The MOEX Russia Index decreased 0.23% to 2,388.35, and the RTS grew 0.96% to 989.43.

"The Russian stock market did not demonstrate unified dynamics, as there was profit taking in several stocks, and the ruble strengthened," Veles Capital analyst Yelena Kozhukhova said.

Finam analyst Alexander Kovalyov said that the U.S. stock market fell on Wednesday after the Federal Reserve System raised the key rate by 25 basis points because of a crisis in the banking sector. A statement by Treasury Secretary Janet Yellen that the treasury is not considering guaranteeing all bank deposits added to the fall.

China and Hong Kong closed higher on Thursday on expectations that the U.S. key rate increase cycle would end soon. The European market declined after the U.S. Fed meeting, Kovalyov said.

According to Kozhukhova, the common shares of Bank Saint Petersburg corrected downwards 1.28% after growth on Wednesday, as investors waited for a decision of the board of directors on the 2022 final dividends.

Mechel corrected downwards 1.84% on the news of a 0.5% coal output decline and a 1% steel production rise in 2022, the analyst said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.14	203.17	4.529
Gazprom	+0.23	169.1	2.845
UWC	+15.6	137.1	1.957
Polyus	+0.19	9506	1.877
Lukoil	-0.3	4180	1.415

(76.9561 rubles – U.S. $1)

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