Russian stocks mixed, recover losses on oversold ruble
MOSCOW, Apr 10 (PRIME) -- The MOEX Russia Index rose on Tuesday after a slump on Monday as shares became attractive against the oversold ruble, and the U.S. dollar-denominated RTS edged down, analysts said.
The MOEX Russia Index grew 3.96% to 2,173.76 and the RTS Index fell 0.38% to 1,090.79.
УThe MOEX Russia Index has started an upward correction today since the middle of the day on the back of continuing weakening of the ruble. The ruble has lost almost 8% against the U.S. dollar since last Friday and now trades close to 63 per U.S. dollar,Ф Vladimir Vedeneyev, director of Raiffeisen CapitalТs portfolio management department, said.
He said that MondayТs selloffs were emotional and the real risks are unclear.
According to Andrei Kochetkov, an analyst at Otkritie Broker, foreign markets were optimistic about easing of trade war rhetoric as ChinaТs President Xi Jinping promised liberalization of financial services affordability and changes in industry regulations.
Sberbank remained under pressure on statements by the executives about its possible losses from the sanctions, he said. Investors are also concerned about connections between Sberbank and the blacklisted companies.
MefaFon fell 4.57% on the news that some blacklisted individuals own its shares.
Below are the MOEX Russia IndexТ five most active stocks on Tuesday:
|Company||Change, %||Last price, rbl||Trading volume, bln rbl|
(58.5714 rubles Ц U.S. $1)