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Russian stocks rise on end of COVID pandemic, oil price growth

MOSCOW, May 5 (PRIME) -- The Russian stock market grew on Friday thanks to support from the World Health OrganizationТs announcement about the end of the coronavirus pandemic and a subsequent growth of oil prices, analysts said.

The MOEX Russia Index rose 0.54% to 2,538.24 and the RTS increased 1.47% to 1,033.68.

УThe World Health Organization ended the emergency regime linked to the spread of the COVID-19 coronavirus in the world in effect since March 2020, meaning an official announcement of the end of the pandemic. The oil prices and the developing countriesТ currencies reacted positively,Ф Natalya Milchakova, senior analyst at Freedom Finance Global, said.

The WHO announcement pushed the gold price 1.9% down to U.S. $2,016.9 per ounce as defensive assets are usually in high demand during the times of uncertainty, she said.

The shares of gold producer Seligdar lost 2.22% to 49.40 rubles, she added.

УThe Russian stock market grew on Friday ignoring the continuous strengthening of the ruble. The oil prices ramped up their recovery thanks to the positive momentum,Ф Otkritie Research leading analyst for global research Andrei Kochetkov said.

The shares of metals and mining group Mechel gained 0.42% to 180.46 rubles in reaction to RussiaТs high coal exports.

Exports of coking coal through the railroads of Russian Railways including delivery to ports soared by 44% on the year in JanuaryЦMarch. The Energy Ministry says coal demand in China and India is high, creating a consistent sales channel for Russian coal companies, Kochetkov said.

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

Company Change, % Last price, rbl Trading volume, bln rbl
Sberbank +0.42 239.89 11.911
VTB +0.33 0.021165 4.354
Gazprom -0.10 173.49 3.127
Mechel +0.42 180.46 2.481
Lukoil -0.43 4528.00 1.591

(78.6139 rubles Ц U.S. $1)

End

05.05.2023 19:15
 
 
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