Russian Stocks Correct Lower Amid Ceasefire in Ukraine

Strategic Insights -

Russian stocks experienced a correction lower on Monday as a ceasefire in Ukraine led to profit-taking, despite some corporate news driven gains. The MICEX stock index fell 2% to 1,800.59 points, while the RTS fell 1.8% to 897.35. Amidst the declines, Sistema and Raspadskaya managed to gain on corporate news.

Key Takeaways:

  • The MICEX stock index fell 2% to 1,800.59 points, with the RTS down 1.8% to 897.35.
  • Leading blue chip decliners included Gazprom Neft (-4.7%), Novatek (-3.5%), Rosneft (-3.6%), and Lukoil (-3.7%).
  • Sistema gained (+6.4%) after a court ordered Ural-Invest to pay 71 billion rubles to compensate Sistema for losses incurred in the return of Bashneft to state ownership.
  • Among second-tier stocks, Pharmacy Chain 36.6 (APTK) led the decliners with a drop of 19.3%.
  • Raspadskaya, Mostotrest, Moscow Exchange, and M.Video led the advancers.
  • Mostotrest (+3.8%), Moscow Exchange (+3.3%), and M.Video (+3.2%) saw significant gains.

Statistics:

  • The MICEX stock index fell 2%, while the RTS fell 1.8%.
  • Combined trading volume on the main Moscow Exchange market was 36.791 billion rubles, with 9.23 billion rubles in Sberbank ordinary shares.
  • Gazprom Neft fell 4.7%, Novatek fell 3.5%, Rosneft fell 3.6%, and Lukoil fell 3.7%.
  • Sistema's gain was 6.4% on news of Ural-Invest paying 71 billion rubles to compensate for Bashneft losses.
  • Pharmacy Chain 36.6 (APTK) declined by 19.3%.

Sources:

  • Interfax, MOSCOW. Feb 16 (Interfax)