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Russian stocks increase on dividend stories

MOSCOW, Jun 1 (PRIME) -- The Russian stock market increased on Thursday supported by dividend expectations after a trading session marked by mixed dynamics because of ruble fluctuations, analysts said.

The MOEX Russia Index grew 0.15% to 2,721.73, and the RTS index increased 0.61% to 1,061.89.

"The Russian markets demonstrated mixed dynamics on Thursday. The MOEX Russia Index edged down, while the RTS grew by up to 0.3% as the national currency strengthened," Sofya Kirsanova, portfolio manager at managing company Pervaya, said. Dmitry Babin, stock market expert at BCS World of Investment, said that in the evening, the ruble lost almost all gains.

Lukoil's shares traded with final dividends for 2022 for the last day and pushed up the oil and gas stocks index, Kirsanova said.

Yelena Kozhukhova from Veles Capital said that Mechel decreased 3.5% after publication of operating results for JanuaryЦMarch. Raspadskaya's shares followed the dynamics dropping 1.25%. The shares were also hurt by suspension of development on the Raspadskaya mine under a court order for 90 days, she said.

Sovcomflot (+5.31%), Tatneft (+1.96% common shares and 1.51% preferred shares) and LSR (+0.95%) rose after dividend announcements, Kozhukhova said.

According to Kirsanova, Russian investors' optimism was supported by the news that unemployment declined to 3.3% in April, while the market expected growth to 3.6%. Retail sales rose by 7.4% on the year with an earlier growth estimate at 5.8%.

Kozhukhova said that the foreign markets were moderately optimistic, while the oil prices remained weak and could fall to new lows during the next sessions.

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

Company Change, % Last price, rbl Trading volume, bln rbl
Sberbank -1.54 242.39 9.216
Lukoil +1.51 5653 7.042
Magnit +1.91 4375.5 4.129
VTB -1.94 0.02177 2.858
Gazprom -0.45 162.2 2.597

(80.9942 rubles Ц U.S. $1)


01.06.2023 19:14
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