Russian stocks ease on dividend cut-offs, profit taking - Financial Wire - 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 ease on dividend cut-offs, profit taking

MOSCOW, Jun 2 (PRIME) -- The Russian stock market edged down on Friday because of the dividend cut-off in the shares of oil major Lukoil and profit taking in some other securities, analysts said.

The MOEX Russia Index fell 0.08% to 2,719.48 and the RTS decreased 0.98% to 1,051.53.

УThe mood of the foreign stock floors was optimistic on Friday. It looks like the U.S. debt problem was solved successfully by an increase of the debt threshold and by its legal approval. Investors should now focus on the prospects of interest rates. The MOEX Russia Index and the RTS Index showed a moderate contraction because of LukoilТs dividend cut-off and because of profit taking in the shares of some other companies,Ф Veles CapitalТs Yelena Kozhukhova said.

Otkritie BrokerТs leading analyst for global research Andrei Kochetkov said that the shares contracted by the amount that is smaller than the proposed dividends meaning the market probably expects the dividend gap to close quickly. The company the plunged by 5.67% to 5,361.50 rubles.

УEven though the corporate news flow remains favorable, the recent bear activity is connected to the upcoming period of record dates for the companyТs dividends,Ф Natalya Milchakova, leading analyst of Freedom Finance Global, said.

The shares of shipping company Sovcomflot gained 10.86% to 93.23 rubles in reaction to the latest financial report, Milchakova said.

Kochetkov also said that the ordinary shares of metals and mining group Mechel grew by 0.59% to 173 rubles in spite of the board of directorsТ recommendation to pay no dividends for 2022 because investors grew used to such recommendations, he said.

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

Company Change, % Last price, rbl Trading volume, bln rbl
Lukoil -5.67 5361.50 16.702
Gazprom +5.39 0.02258 12.270
Sberbank +1.30 244.81 9.952
Sovcomflot +10.86 93.23 8.563
MTS +2.10 324.00 2.710

(80.9657 rubles Ц U.S. $1)

End

02.06.2023 19:10
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 104.3024 +0.2403 05 oct
USD 99.4555 +0.1878 05 oct
Stock Market Indices
1D 1W 1M 1Y
MICEX
micex 3140.72 -0.10 17:02 04 oct
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 165.51 -0.74 16:47 04 oct
lkoh 6745.50 -0.13 16:47 04 oct
rosn 541.55 +0.49 16:47 04 oct
sber 259.06 -0.23 16:47 04 oct
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 104.1000 +0.3475 14:59 04 oct
USDTD 99.6600 +0.4025 16:47 04 oct