Russian stock market is winning back positive on Thursday


  • MOEX Index: 3413.65 (+ 1.26%)
  • RTS Index: 1450.22 (+ 0.94%)

The Russian stock market opened the Friday trading session in positive territory, recouping the positive dynamics of the global financial markets on January 7. Among the sectoral indices, indicators of the financial and oil and gas sectors hold the palm. Among the laggards is the power industry index.

The TCS Group depository receipts are among the leaders. On Thursday it became known that as a result of the conversion of shares, the founder of the company Oleg Tinkov and his family reduced the share of votes in decision-making in the group from 84% to 35%. Minority shareholders were given more opportunities to protect their rights when making corporate decisions, which had a positive impact on the group’s capitalization.

MMC Norilsk Nickel shares have once again renewed highs in light of multi-year highs in copper and nickel prices, which account for about two-thirds of the company’s revenue. Also growing shares of RUSAL, which owns a 27.8% stake in Norilsk Nickel. Papers of other metallurgists look more modest. The securities of the gold miners Polyus and Petropavlovsk are lagging behind.

In the oil and gas sector, shares of Rosneft, NOVATEK and Gazprom added about 3%. The positive dynamics of the sector is supported by the rise in hydrocarbon prices.

The external background is favorable and conducive to continued growth. Asian markets are mostly in positive territory. Brent crude oil futures are up 0.6%. S&P 500 index futures are up 0.5%.

Leaders: TCS Group (+ 4.9%), MMC Norilsk Nickel (+ 3.7%), Rosneft (+ 3.1%), NOVATEK (+ 2.9%), Gazprom (+ 2.9%), Phosagro (+ 2.1%).

Outsiders: Rusagro (-1.1%), Petropavlovsk (-0.6%), Enel Russia (-0.4%), X5 Retail Group (-0.1%), Polyus (0.0%).

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