MOSCOW, Mar 3 (PRIME) -- The Russian stock market increased on Friday after an idealess trading session, partially supported by an oil price recovery, analysts said.
The MICEX grew 0.39% to 2,056.89 and the RTS rose 0.77% to 1,108.26.
“On the Russian trading floors, the MICEX and the RTS are keeping the positions close to 2,050 and 1,100, respectively, in the conditions of relatively stable oil prices,” Alexandra Sosnova, a leading analyst at Bank Rossiysky Capital, said.
The indices were in the negative zone during the most of the session. “The market continues a downward trend on the back of a lack of positive ideas. Non-residents are withdrawing funds while domestic investors are disappointed by dividend payment prospects and the dynamics of Russian–U.S. relations,” Otkritie Broker analyst Andrei Kochetkov said.
An oil price increase above U.S. $55 per barrel later balanced the negative trend, analysts said.
Kochetkov said that Russia’s macroeconomic statistics figures have begun to slide from the winter surge, and the Services purchasing managers’ index (PMI) fell to 55.5 in February from 58.4 in January, which added to investor apathy.
InstaForex analyst Igor Kovalyov said that investor activity on foreign markets was subdued as they were waiting for a speech by U.S. Federal Reserve System Chairwoman Janet Yellen, expected to say that it would be appropriate to raise the interest rate in March.
Kochetkov said he sees 2,030 as the current support level for the MICEX.
Kovalyov said that Gazprom outperformed the market on the news that the company can soon announce a new model of financing of the Nord Stream-2 pipeline. Gazprom and Germany’s Uniper have confirmed readiness to launch the pipeline on time, at the end of 2019.
Below are the MICEX’ five most active stocks on Friday:
| Company | Change, % | Last price, rbl | Trading volume, bln rbl |
|---|---|---|---|
| Sberbank | +0.61 | 164.4 | 6.251 |
| Gazprom | +2.67 | 134.8 | 5.330 |
| Moscow Exchange | -4.99 | 118.26 | 2.480 |
| Lukoil | -0.03 | 3085 | 2.009 |
| FGC UES | +0.77 | 0.2105 | 1.466 |
(58.4067 rubles – U.S. $1)
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