The main stock market index in Russia (MOEX) increased 181 points or 5.84% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks this benchmark index from Russia. Russia Stock Market Index MOEX CFD - values, historical data, forecasts and news - updated...
The ruble-based MOEX Russia index rose to 3,486 on Thursday, picking up the morning pace, driven by corporate updates.
The earnings season continued in Russia with Rostelecom and Sovcombank' accounts. Rostelecom shares shot up by 6.2%.
The company disclosed a 28% decrease in its net profit in Q1 of 2024 compared to the same period of 2023.
However, market sentiment was driven by the announcement of IPO for its subsidiary, the RTK-DPC.
The other winners included Moex (2.5%), GLTR (1.6%), and Tatneft (1.1%).
In contrast, PIK (-2.4%), Rusal (-2.4%), Samolet (-1.9%), Seligdar (-1.5%), and Aeroflot (-1.3%) declined.
Rusal's board of directots decided not to allocate dividends for 2023, while Aeroflot fell ahead of tomorrow's negotiations between FAS and its management on pricing.
Also, Sovcombank lost 2.4%, having revised downwards its revenue projections for 2024 due to high-for-longer monetary stance by the CBR.