Russian stocks rise on TMK dividends, TCS buyback expectations

MOSCOW, Mar 12 (PRIME) – The Russian stocks grew on Friday on the news of lavish dividends that oil and gas pipe producer TMK plans to pay, while TCS’s global depositary receipts rose on expectations of a buyback, analysts said.

The MOEX Russia Index rose 0.88% to 3,539.50 and the RTS increased 0.95% to 1,519.50.

“The MOEX Russia Index and the RTS Index grew thanks to the corporate stories in spite of worsening of the mood of players on foreign bourses,” Veles Capital’s analyst Yelena Kozhukhova said.

TMK soared by XX% to XX rubles on the news that 2020 dividends will amount to 9.67 rubles per share. TCS’s global depositary receipts jumped by XX% to XX rubles in a rebound after sales and on expectations of a buyback, Kozhukhova said.

Yevgeny Loktyukhov, analyst at Promsvyazbank, also said that the MOEX Russia Index set new records in spite of the unfavorable background.

“The market growth was supported by continuous demand for some low-liquid shares of the oil and gas industry and by selective active purchases in some idea-driven shares,” Loktyukhov said.

Shares of steelmaker Severstal gained XX% to XX rubles due to the momentum it gained after the company released positive forecasts during its investor day on Thursday, he said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.10	285.70	13.375
Norilsk Nickel	+1.21	23680.00	8.807
Gazprom	+0.44	233.49	5.987
Lukoil	+0.28	6357.00	5.445
Tatneft	+0.86	624.00	3.607

(73.4996 rubles – U.S. $1)

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