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Russian Stocks Gain as OPEC Fails to Agree on Quotas

Strategic Insights

— 1 min read

Russian stocks surged on Wednesday after OPEC (Organization of the Petroleum Exporting Countries) decided to maintain oil production quotas unchanged. This decision led to an increase in the value of Russian stocks, with key players like Rosneft and Gazprom seeing significant gains. The RTS index closed at 1,911.41 points, a 0.38% increase, while the MICEX index rose by 0.13% to 1,664.83 points.

Key Takeaways:

  • The RTS index increased by 0.38% to 1,911.41 points, while the MICEX index rose by 0.13% to 1,664.83 points.
  • Key players like Rosneft (RTS: ROSN) gained 1.6%, Gazprom (RTS: GAZP) was up 1.2%, MMC Norilsk Nickel (RTS: GMKN) rose 0.5%, Tatneft (RTS: TATN) added 0.4%, and Rostelecom (RTS: RTKM) edged up 0.2%.
  • Among decliners, NOVATEK (RTS: NVTK) was down 1.8%, Sberbank Russia ordinary shares shed 0.4%, Polyus Gold (RTS: PLZL) and VTB (RTS: VTBR) were both down 0.3%, and Surgutneftegas (RTS: SNGS) and Gazprom Neft (RTS: SIBN) both lost 0.2%.
  • Advancers included Acron (RTS: AKRN) - up 2.7%, Mosenergosbyt (RTS: MSSB) - 1.9%, IDGC of North Caucasus (RTS: MRKK) - 1.8%, Sedmoi Kontinent (Seventh Continent) (RTS: SCON) - 1.5% and OGK-2 (RTS: OGKB) - 1.5%.

Statistics:

  • Volume totaled $5.572 million on RTS Classica, $444.16 million on RTS Standard, and 55.826 billion rubles on MICEX.
  • Key players saw the following gains:

+ Rosneft: up 1.6%

+ Gazprom: up 1.2%

+ MMC Norilsk Nickel: up 0.5%

+ Tatneft: up 0.4%

+ Rostelecom: up 0.2%

Sources:

  • Interfax, June 8 (Moscow)

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