The MICEX index grew by 15.33 GMT on 0,07%, and RTS index – on 0,72%, while the January futures for oil of mark Brent rose by 1.47%.
MOSCOW, 9 Nov. Elena Likova. The Russian stock market on Monday, rising on major indices on the backdrop of a strengthening ruble and rising oil prices, the growth of the MICEX index help buy shares in steel companies.
The MICEX index grew by 15.33 GMT by 0.07% to 1754,36 points, RTS index — on 0,72%, to 860,46 points, follows from the data of the Moscow exchange.
The dollar calculations “tomorrow” fell by 32 kopecks to 64,28 of the ruble, the Euro by 8 cents, to 69,32 ruble.
The January futures for oil of mark Brent rose by 1.47% to 48,88 per barrel.
The MICEX index increased in the first half of the day Monday on the background of active purchases in actions of the metallurgical companies after the publication of strong quarterly results of NLMK, says the head of trading strategies Dukascopy Bank SA Daniil Egorov.
NLMK shares were up 2.62 per cent on the back of growth in net profit under IFRS for January-September 2015 year to 891 million, or 31% compared to the same period last year.
NLMK has published financial statements in accordance with US GAAP, but according to the Vice President for Finance Grigory Fedorishin, according to the requirements of the Russian legislation, beginning with the reports for the first nine months of 2015 NLMK passed on formation of consolidated financial results under IFRS.
“The Outlook for the fourth quarter remains weak on the background of the beginning of the seasonal decline in demand, which will affect sales and the fall in steel prices, which adversely affect revenues and profitability,” comments Andrew Tretinnikov from RMG.
Also growing shares of CHTPZ (4,26%), Severstal (0,12%) and ordinary shares of “Mechel” (0,21%), MMK (2,01%).
Leaders and outsiders
Among leaders of growth — actions “Pharmacy chain 36 and 6” (8,65%), M. Video (3,35%), “E. on Russia” (2,15%), NOVATEK (1,94%), prefs of Transneft (1,87%), as well as the shares of the securities of Rostelecom (preference shares rise by 1.44%, ordinary — on 1,61%).
Shares of the Bank “URALSIB” in the morning session tried to continue the growth of previous days and jumped by 31% to 20.9 penny, then turned to decrease. Now the Bank’s shares fall by 4.2% — up to 15,29 penny.
Among leaders of decrease also — shares in Polyus Gold (-6,26%), RusHydro (-5,26%), Mosenergo (-2,24%), PhosAgro (-1,39%), TMK (-0,94%).
Forecasts and recommendations
Egorov correctional expects weak growth of the Russian indexes after the ruble.
The MICEX index will hold an auction Monday in the range 1745-1785 points, said Alexander Razuvaev of “Alpari”.
The ruble-denominated MICEX index has all the chances to fall to 1700 points, says Gleb market pulse from Profit Group. “Rehearsal pre-new year rally ended. Whether the very pre-new year rally on the Russian stock market is still an open question,” he commented.