Russian stocks rise on corporate news, political statements

MOSCOW, Mar 29 (PRIME) -- The Russian stock market increased on Wednesday amid corporate news, political statements on the financial market and positive global environment, analysts said.

The MOEX Russia Index rose 0.76% to 2,460.87 and the RTS increased 0.47% to 1,004.56.

“At the governmental meeting on March 28 a number of statements were made which encouraged the investors,” Freedom Finance Global’s Senior Analyst Natalya Milchakova said.

First Deputy Prime Minister Andrei Belousov proposed to allow foreign investors from any country, including unfriendly ones, to receive dividends on their shares and even sell these securities if they were bought after the imposition of economic sanctions in 2022.

The stock market was also supported by the government’s initiative to improve investment activity in Russia, the analyst added.

According to Veles Capital analyst Yelena Kozhukhova, the Russian stock market consolidated in a subdued plus following corporate stories and increased optimism abroad.

Cian's receipts jumped to their highest since August 2022, showing the highest growth on the market, amid the news of an appeal against the decision to delist from the New York Stock Exchange, the analyst said.

Developer Etalon’s shares rose 4.03% following the report on a jump in 2022 net profit by 4.3 times to a record 13 billion rubles, which was provided by operating profits from the profitable acquisition of the Russian business of the Finnish construction concern YIT.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.92	218.14	18.587
Gazprom	-0.23	170.68	3.369
Sberbank (prefs)	+1.82	217.8	1.835
MMK	+2.75	40225	1.797
Severstal	+2.7	1066	1.792

(76.5939 rubles – U.S. $1)

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