Russian stocks rise on favorable environment, corporate stories - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Russian stocks rise on favorable environment, corporate stories

MOSCOW, Nov 1 (PRIME) Ц The Russian stocks grew on Friday as the global risk appetite increased following improvements in the Chinese economy and softening of the monetary policy by the U.S. Federal Reserve System (Fed), while some local corporate stories also helped the market, analysts said.

The MOEX Russia Index rose 1.26% to 2,930.40 and the RTS increased 2.29% to 1,455.44.

УThe Russian stock market started the day with uncertainty, but later Europe opened, where investors bought on good statistics from China. Yesterday the official PMI showed contraction of industrial activity for a sixth consecutive month, but today, the Caixin PMI index that largely takes into account small and medium-sized businesses showed improvement in the situation. The appetite for risk recovered,Ф Andrei Kochekov, senior analyst at Otkritie Broker, said.

Yaroslav Kabakov, director for strategies at investment company Finam, said that the Russian stock market priced in positive news from the U.S. market even better than the U.S. floors.

УTaking into account concerns over the slowdown of the global economic growth, investors saw the news about softening of the U.S. monetary policy as a good pretext to buy risk,Ф Kabakov said.

Sofya Kirsanova, portfolio manager at managing company Raiffeisen Capital, said that the moderately optimistic mood that prevailed on the foreign bourses supported the Russian market, but rallies in some Russian securities, prompted by corporate news or rumors, also helped the market to grow.

УIn spite of correction in most cyclical shares of metals companies, other securities showed growth, including non-cyclical shares in the consumer, telecommunications, or financial sectors, and oil and gas,Ф Kirsanova said.

The Brent oil price gained 1.747% to U.S. $60.68 per barrel. Kochetkov said that the oil price grew after suspension of the Keystone Pipeline in the U.S., which supported shares of Russian oil companies. Ordinary shares of Surgutneftegas gained 7.57% to 46.255 rubles.

Arseny Dadashev, director of the Academy for Management of Finance and Investment, said that household aplpiances and electronic goods seller M.Video-Eldorado grew 5.50% to 448.80 rubles after the board of directors recommended paying the companyТs first dividends since 2016.

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

Company Change, % Last price, rbl Trading volume, bln rbl
Gazprom +1.46 263.79 13.332
Sberbank +0.64 236.40 9.221
Surgutneftegas +7.57 46.255 6.051
Lukoil +1.71 6021.00 4.782
Norilsk Nickel +1.67 18186.00 3.545

(63.7748 rubles Ц U.S. $1)


01.11.2019 19:08
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 69.8608 -0.5663 14 dec
USD 62.5544 -0.6713 14 dec
Stock Market Indices
1D 1W 1M 1Y
rtsi 1501.42 +0.30 18:50 13 dec
micex 2996.63 +0.46 18:50 13 dec
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 249.50 -0.39 18:49 13 dec
lkoh 6168.00 +0.52 18:49 13 dec
rosn 451.10 -0.38 18:48 13 dec
sber 241.21 +0.07 18:49 13 dec
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 69.7250 -0.5800 14:59 13 dec
USDTD 62.7300 -0.1900 17:44 13 dec