Russian Stock Market Rallies on Oil Prices and Strong Ruble

Strategic Insights -

The Russian stock market surged on Thursday, with oil prices and a stronger ruble driving the gains. The MICEX stock index rose 0.7% to 1689.32, while the RTS index increased by 1.5% to 856.44. Banks, including VTB, Sberbank, and Gazprom Neft, led the market up, with VTB experiencing a significant 3.6% gain. Several other companies, including Lukoil, Novatek, and Rosneft, also saw notable gains, while some companies, such as Gazprom, Magnit, and Polyus Gold, suffered losses.

Key Takeaways:

  • The Russian stock market rallied on Thursday due to a stronger ruble and rising oil prices, with the MICEX index increasing by 0.7% to 1689.32.
  • Banks, particularly VTB, Sberbank, and Gazprom Neft, led the market up with significant gains, including VTB's 3.6% increase.
  • Several other companies, such as Lukoil, Novatek, and Rosneft, also experienced notable gains, ranging from 0.3% to 4.3%.
  • Companies like Gazprom, Magnit, and Polyus Gold suffered losses, with Gazprom declining by 0.1% and Polyus Gold dropping by 1.4%.
  • Second-tier companies, including GTL, Transaero, and Rusal, also saw gains, with GTL increasing by 39.9% and Transaero rising by 25%.
  • The main Moscow Exchange market saw a combined trading volume of 45.815 billion rubles, with 18.911 billion rubles being Sberbank ordinary shares.

Statistics:

  • MICEX index rose by 0.7% on Thursday, closing at 1689.32
  • RTS index increased by 1.5% to 856.44
  • VTB gained 3.6% to lead the market up
  • Sberbank increased by 4.3% (and 4% for preferred shares)
  • Lukoil rose by 0.7%
  • Novatek increased by 0.3%
  • Rosneft gained 0.7%
  • GTL increased by 39.9% (to 0.135 rubles)
  • Transaero rose by 25% (to 10 rubles)

Sources:

  • Interfax, Moscow, Oct 8, 2023.
  • Our editorial staff can be reached at eng.editors@interfax.ru.