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Russian stock market opens March 24 2022 first time since start of war


The ruble-based MOEX Russia Index edged down to 3,395 on Friday, moderating after 9 sessions of gains, as investors took profits and weighed the geopolitical environment.

Japan announced a ban on the export of 164 categories of goods to Russia from April 17 as part of anti-Russian sanctions.

Still, elevated oil prices continued to support Federation's producers.

On the corporate front, the decreases were led by VK (-1.9%), MMK (-1.7%), Rostelecom (-1.5%), Rusal (-1.3%), and Novatek (-1.1%).

The latter hinted it may reduce the number of lines at Arctic LNG 2 to two instead of three in favor of Murmansk LNG.

The advantage of Murmansk LNG is implementation on the basis of a year-round ice-free port, which means that the sanctioned special ice-class tankers would not be needed.

On the side of wins, Aeroflot (2.3%), Moex (1.9%), Seligdar (1.7%), and MosEnergo (1.4%) advanced.

Over the week, the index added nearly 2%.


MOEX 12 Month Chart
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The ruble-based MOEX Russia Index rose to 3,417 on Monday, as investors digested business updates and CBR head Nabiullina's comments.

During a speech in the State Duma, the official named the second half of the year as the potential timing for the monetary easing.

On the corporate front, the leaders of growth were EN+ (10.6%), AFK Sistema (6.2%), Surgut (2.2%), Rusal (2.2%), and Magnit (2.2%).

Meanwhile, Nornickel added 1.7%, having resumed trade after the suspension by split.

Also, heavyweight Lukoil increased by more than 1% after investing $200 million to conduct joint projects for the development of fields on the Caspian Sea shelf.

On the side of declines, GLTR (-0.7%) and Polus (-0.5%) dragged.

GLTR presented upbeat financial results for 2023, but its dividend payments remained suspended.
 

The ruble-based MOEX Russia Index closed flat at 3,414 on Tuesday, giving up the morning momentum on the background of reduced oil prices.

Meanwhile, investors digested a batch of financial reports.

The largest falls were recorded by EN+ (-2.8%), Ozon (-2.6%), Polymetal (-2%), and Surgut (-2%).

Ozon declined after logging net losses of 18.2 billion rubles in Q4 of 2023 compared to 11.2 billion rubles a year earlier.

Meanwhile, AFK Sistema dropped by 1.1%, affected by lower EBITDA, and NLMK lost 0.8% in anticipation of meeting results.

On the other hand, the gains came from NorNickel (4.5%), Polus (2.7%), and Severstal (0.7%), with the companies benefiting from the rally in metals.

Also, Etalon added 0.9%, having reached record sales in the first quarter of 2024.
 

The ruble-based MOEX Russia Index rose to 3,439 on Wednesday, following a flat close in the previous session and picking up the pace from the morning, driven by improved risk sentiment as investors welcomed the remarks of the CBR head.

Nabiullina stated that inflation has already peaked and the monetary easing would begin as soon as the slowdown in price pressures reaches the desired speed and inflation expectations return to normal levels.

Metals & mining and electric utilities sectors were leading the increase, while IT declined. Among individual stocks, Rusal (5.1%), EN+ (4.4%), and NLMK (3.9%) grew the most.

Rusal and EN+ advanced on higher aluminum prices, while NLMK shares spiked after its Board of Directors recommended paying RUB 25.43 per share of dividends per 2023.

In contrast, Polus (-1.3%), AFK Sistema (-1.2%), Samolet (-0.9%), and Seligdar (-0.8%) dropped.

Traders are now awaiting the publication of CPI data due after the closing bell.
 

The ruble-based MOEX Russia Index closed muted at 3,439 on Thursday, following a rise in the previous session, as investors weighed the remarks of the CBR head and latest CPI data.

Nabiullina stated that inflation has already peaked and the monetary easing would begin as soon as the slowdown in price pressures reaches the desired speed.

According to March release, the annual inflation rate in Russia remained elevated at 7.7% but matched the market expectations.

Meanwhile, lack of other investment options and hopes for higher dividends supported the index.

On the corporate front, the gains were led by BSP (2.4%), lnter (1.4%), Polus (1.1%), and Gazprom (0.8%).

In contrast, EN+ (-2.7%), Surgut (-1.6%), and Mechel (-1.5%) declined.
 

The ruble-based MOEX Russia Index edged up to 3,456 on Friday, following a muted close, as the rally in industrial and precious metals continued to underpin miners and metallurgists.

Among individual stocks, the top performers were Polus (3.8%), NorNickel (3%), Seligdar (2.5%), Rusal (2.2%), and EN+ (2.1%).

On the other hand, Ozon (-1.3%), Aeroflot (-1%) and Mechel (-0.9%) dropped.

Weekly, the index gained around 1.8%, driven by surge in global commodities and hopes for upcoming monetary easing by CBR after Nabiullina soft remarks and improved federal budget figures for q1 of 2024.

Also, investos braced for around 30 IPO's scheduled for the next two months.

MOEX 12 Month Chart

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The ruble-based MOEX Russia Index rose to 3,470 on Monday, picking up the morning pace and following marginal gains in the previous session, as investors discarded the retreat in oil prices and negative geopolitical news and focused on upcoming dividends announcements.

The telecommunications, IT, and transport sectors were leading the increase.

Meanwhile, the metals & mining sector recorded losses, affected by the US and UK's decision to impose sanctions against the import of nickel, copper, and aluminum from the Russian Federation.

In addition to purchases of these metals from Russia, sanctions ban the London and Chicago Mercantile Exchanges from accepting metal.

Among individual stocks, the top performers were GLTR (6.3%), BSP (3.6%), Ozon (3%), and Surgutneftgas (3%).

In contrast, Seligdar (-3.3%), Nornickel (-1.4%), EN+ (-1.4%), and Polus (-1.1%) dropped.
 

The ruble-based MOEX Russia index closed slightly lower at 3,464 on Tuesday, easing off the post-Ukrainian invasion high touched in the prior session as markets continued to assess the impact of fresh sanctions from the West, in addition to the macroeconomic backdrop of Russia’s key trading partners.

Key aluminum and nickel producers EN+, Rusal, and NorNickel dropped between 3.3% and 1.5%, extending the weak momentum after the US and UK sanctioned Russian base metals from being accepted by the LME.

Rusal had already asked the Ministry of Industry and Trade for support following the sanction announcements, and investors await hints on the extent of aid by Moscow.

The pressure in the mining sector was magnified by pessimistic industrial and retail data from China, in addition to a fresh weakening of the yuan, which hampered the foreign demand outlook for Russian metals.
 
what a joke. I don't know why you keep posting .

While Putin declares protection of his “sovereignty,” Russia has become a full-fledged colony of China. For Russia, China is the largest market for raw materials (32% of exports) and the main supplier of goods (41% of imports). However, Russia itself accounts for only 3.3% of Chinese exports amounting to $3.5 trillion and is not even among the top 5 of its export markets. These figures are discussed by Russian economic commentator Anatoly Nesmiyan (https://t.me/anatoly_nesmiyan/17891…).
Putin can talk all he wants about Ukraine’s dependence on the West, but he is also completely dependent on trade with China.
 
like Germany is of the US , perhaps ?

Russia is also good friends with India ( it has at least one good option )

i would rather be supplying China than dependent on it for critical metals ( like Apple is )
 

The ruble-based MOEX Russia index closed muted at 3,454 on Wednesday, struggling to break out of sideways trend this week since sanctions against Russian metals and lacklustre economic data from the country's key trading partners continued to weigh on the sentiment.

However, the elevated oil prices and upwardly revised forecast for Russian GDP growth in 2024 and 2025 by the IMF acted as supporting factors.

Among individual stocks, Seligdar (-4%), PIK (-2.4%), GLTR (-2%) and MKB (-1.8%), and Surgut (-1.7%) declined.

In contrast, AFK Sistema (4%), Samolet (2.3%), HeadHunter (1.6%), Ozon (1.4%), and Gazprom (0.6%) advanced.

AFK Sistema remained underpinned by the upcoming IPO of MTS Bank, while HeadHunter benefited from low unemployment.
 

The ruble-based MOEX Russia index ended virtually unchanged at 3,455 on Thursday, following marginal declines in the previous two sessions, as investors took profits and awaited more corporate updates.

The wins in the sectors were headed by the IT and telecommunications, while consumer goods, electric utilities and oil & gas fell.

Among individual stocks, the top performers were Ozon (2.3%), Rusal (2.1%), EN + (2%), TCS (1.9%), and Seligdar (1.8%) . Seligdar, Russal, EN+ benefited from higher prices of aluminum and gold.

Also, Severstal closed in green, supported by information about a possible quarterly dividend payout on April 23rd.

In contrast, GLTR (-1.9%), Magnit (-1.3%), Tatneft (-1.1%), Rosseti (-1.1%), Rosneft (-0.8%), and Lukoil (-0.7%) declined.

Furthermore, MMK lost 0.7% after reporting a decrease in its yoy metal products and coal concentrate sales for Q1 of 2024 compared to the same period of 2023.
 

The ruble-based MOEX Russia index rose to 3,470 on Friday, as investors evaluated the eased risks in the Middle East and digested corporate news. The transport and oil & gas sectors were leading the gains.

Among individual stocks, Surgut (4%), Ozon (2.2%), Aeroflot (1.9%), Magnit (1.9%), Rosneft (1.5%), and Gazprom (1.1%) advanced the most.

Also, MTS added 0.9% after it became known the placement price range for the IPO of MTS Bank would be RUB 2,350–2,500 per share, and Seligdar grew by 0.8%, having achieved a 78% increase in revenues from metals sales in Q1 of 2024.

Meanwhile, EN+ (-1.6%), MKB (-1.4%), Segezha (-0.6%), and Rusal (-1.6%) declined.

The index edged up by 0.4% over the week, marked with dividend announcements by TMK and Alrosa, presentation of first operating results by X5 and PhosAgro, and introduction of sanctions on Russian metals by UK and US.


MOEX 12 Month Chart
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The ruble-based MOEX Russia index closed muted at 3,479 on Monday, weighed by the correction in oil and metals prices and geopolitical news.

MKB (3.4%), Unipro (3%), AFK Sistema (2.5%), Ozon (2.3%), Surgut (2.2%), and Sberbank (2%) were the most bullish.

Today Surgut was holding the meeting of company's board of directors to discuss the dividends.

On the negative side, Polus (-2.4%), Seligdra (-2.4%), Rostelecom (-1%), Segezha (-1%), and Novatek (-0.9%) stood out.

The gold miners faced pressure from the falling commodity and signed decree on the raise of the coefficient for the mineral extraction tax on gold by 78 thousand rubles per kilogram from June 1 to December 31, 2024.

However, the anticipated increase in mineral extraction tax was taken off the table, said Deputy Energy Minister Sergei Mochalnikov.
 

The ruble-based MOEX Russia index fell to 3,440 on Tuesday, weighed by lower oil and metals prices, looming sanctions threats, and dividends updates.

The EU might include a ban on the LNG import from the country in the 14th package of sanctions, while the US is preparing sanctions against Chinese banks working with Russia.

Domestically, the authorities confirmed the extension of exporters' capital controls to the end of 2024.

However, they considered lifting the export duties for Rusal (1.4%) and purchasing the company's products into reserve.

The index was dragged by blue chips Sberbank (-2.1%) and Gazprom (-2.1%), with the former announcing record dividend payout for 2023.

Meanwhile, Surgut plunged by 4% since company's board of directors didn't decide on renumeration.

In positive news, TCS advanced by 1.5% after Interros Group supported proposal for an additional issue of shares to integrate Rosbank into the structure of TCS Holding, while Tatneft rose by 1% on dividends.
 

The ruble-based MOEX Russia index edged down to 3,428 on Wednesday, extending yesterday's falls, as markets exercised caution ahead of Friday's CBR meeting and nearing May holidays.

IT, chemicals, and electric utilities sectors dropped the most, while construction rebounded.

Among individual stocks, Ozon (-2.3%), AFK Sistema (-2.1%), VTB (-1.9%), Inter (-1.2%), and Polus (-1.2%) were the most bearish.

Inter announced buying back 3% of its shares from an unnamed minority shareholder.

Also, MTS lost 1%. having recommended yesterday the payment of 35 rub. per share in 2023 dividends.

In contrast, Segezha (3%), BSP (2.9%), Ros Agro (2%), Mechel (1.1%), and Severstal (0.8%) went up.

Severstal agreed with the FAS to reduce the fine in the “metallurgists’ case” by 10 times.

On the geopolitical front, the EU was preparing the 14th sanctions package.

Domestically, authorities presented a forecast for the Russian economy, with the GDP target for 2024 set at 2.8%.
 

The ruble-based MOEX Russia index edged up to 3,439 on Thursday, muted for 2nd session, as caution prevailed on the market ahead of CBR meeting, while investors digested earnings reports.

Ros Agro (5.2%), Positive Group (3.7%), Ozon (3.5%), Rusal (2.4%), and Rostelecom (2.2%) rose the most.

Ros Agro jumped after China announced plans to increase purchases of meat from Russia, and Ozon grew after presenting better-than-expected EBITDA results and a decrease in net loss to RUB 13.2 billion in Q1 of 2024.

Also VTB went up by 1.2%. Even though the bank's net profit fell by 16.8% over the year in the first three months of 2024, it surged by 117% over the quarter. The annual decline was caused by one-time factors such as irregular profits from foreign currency transactions and the acquisition of RNKB.

Meanwhile, MMK shares turned around (0.4%) on mixed figures.

Strong EBITDA contrasted with a fall in FCF. Mechel (-1.6%), Segezha (-1%), Novatek (-0.8%), and Samolet (-0.7%) declined.
 

The ruble-based MOEX Russia index edged up to 3,449 on Friday, preserving the muted trend after the CBR stressed the need for monetary policy to remain tight longer.

The lender revised upwards its GDP and inflation projections, noting the price risks were high and consumption robust.

On the corporate front, wins came from Aeroflot (4.1%), Rosseti (3.7%), Magnit (2.3%), and Moex (1.9%).

Also, Samolet increased by 0.6% after presenting a 71% yoy growth in its net profit for 2023.

Simultaneously, MTS advanced by 0.5% on the IPO of MTS Bank.

In contrast, FixPrice (-3.4%), MKB (-1.5%), VK (-1.1%), and PIK (-0.9%) declined.

The former was penalized by a 43.8% fall in Q1 net profit. Weekly, the index droped by 0.6%.


12 MONTH MOEX Chart
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