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Russian stocks edge up as players price in holiday optimism

MOSCOW, Jan 11 (PRIME) -- Russian stocks edged up on Monday as market players priced in the optimistic results of trade on foreign bourses during the local New Year holidays, analysts said.

The MOEX Russia Index rose 0.80% to 3,482.48 and the RTS remained flat at 1,466.56.

УThe MOEX Russia Index and the RTS Index rose to their new peaks in the first half of the day Ц a historical record of 3,516 and a peak of 1,488 since last February, respectively. It looks like the national market continued pricing in the optimistic mood of global stock market players from the previous week during the countryТs first official working day,Ф Veles CapitalТs analyst Yelena Kozhukhova said.

Valery Yemelyanov, analyst at investment company Freedom Finance, said that the Russian stock market outperformed its counterparts among indices of emerging markets on Monday, and that the MOEX Russia Index grew higher than the RTS Index due to the weakening of the ruble against the U.S. dollar.

УThe RTS Index did not fall below 1,450 and it remains at its highest point for the past 11 months, so one should expect it to rise above 1,500 this week. Е The MOEX Russia Index was in the green zone thanks to the growth of the U.S. dollar Е and it is very likely that the index will be able to climb and stay above 3,500 already during the next trading session,Ф Yemelyanov said.

Yemelyanov also said that shares of metals companies were among the losers on Monday with Novolipetsk Steel (NLMK) and Severstal losing 2.99% to 218.62 rubles and 1.94% to 1,342.60 rubles, respectively, as prices for steel have been steadily falling since the end of December 2020.

At the same time, a cold weather in the European part of Russia resulted in a growth of shares of power producers, so hydropower giant RusHydro gained 3.69% to 0.8234 rubles, and Territorial Generating Company-1 (TGC-1) grew 1.61% to 0.01201 rubles, he said.

Kozhukhova also said that shares of RusHydro received a support from media reports that contain financial targets for the company for 2025 that are more optimistic than ones published by RusHydro previously.

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

Company Change, % Last price, rbl Trading volume, bln rbl
Sberbank +1.84 288.86 31.132
Gazprom +0.93 227.59 24.478
Norilsk Nickel -0.66 26368.00 15.418
Lukoil +0.75 5598.00 11.010
Rosneft -0.85 474.15 4.017

(73.8757 rubles Ц U.S. $1)


11.01.2021 19:24
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