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

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The ruble-based MOEX Russia index rose by 0.4% to 3,238 on Tuesday, following two sessions of little change, driven by gains in consumer goods, construction and financials sectors.

Among individual stocks, PIK (4%), MKB (2.1%), Yandex (2%), Magnit (1.7%), and Segezha (1.1%) were the top performers.

In contrast, Severstal (-1.4%), Mechel (-1.4%), MMK (-1.2%), QIWI (-1.2%), Novatek (-0.9%) declined.

The former could have been affected by news about the disruption of of the supply of specialized vessels to the LNG plant.

Meanwhile, MMK reported a 68.2% increase in its net profit for 2023 compared to 2022. Even though the figure showed the resilience of the company to high-risk environment, it remained well below pre-pandemic levels.
It is good I think to see that the world is going on , on the other side
 

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The ruble-based MOEX Russia index rose to 3256 on Wednesday, closing in the green for the third session and hovering at its highest levels since October 2023, driven by IT and transport sectors.

Still, the upward momentum was subdued after Chinese bank Chouzhou Commercial, uses as the main settlement center by Russian importers, halted operations with the country.

Investors also digested fresh economic data after the closing bell which revealed the country's GDP grew by 3.6% in 2023, reversing 1.2% contraction in 2022, according to preliminary estimates.

Among individual stocks, Yandex (6.1%), X5 (2%), Samolet (1.6%), and Sberbank (1.4%) gained the most.

In contrast, M.Video (-2.7%), QIWI (-2%), MosEnergo (-1.9%), VK (-1.7%), and NLMK (-1.6%) were the key decliners.

M.Video shares dropped despite the company presenting strong operating results.
 

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The ruble-based MOEX Russia index edged down to 3240 on Thursday, halting three days of gains, weighed by telecommunications, IT and transport sectors.

Among individual stocks, TCS (-3.1%), X5 (-2.2%), and Moex (-2.2%) declined the most.

The former was penalized by news about the restricted trade in ordinary shares from February 9, 2024.

Also, Yandex (-1.6%) took spotlight, having scheduled the meeting of shareholders of Yandex N.V on the restructuring on March 7.

The Dutch company Yandex N.V. will sell Yandex's business for 475 billion rubles to a consortium of private investors.

The sale is expected to take place in two phases: the first will end in the first half of 2024, the second in 7 weeks later.

Meanwhile, increases were recorded by Unipro (4.4%), PIK (1.5%), and Polymetal (1.2%).

The former jumped, as rumor about possible nationalization of Rosneft Deutschland boosted the hopes for resumption of dividends.
 

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The ruble-based MOEX Russia index closed muted at 3242 on Friday, following the slight decrease in the previous session, as investors digested corporate updates.

Among sectors, declines were recorded in IT, financials, and transport, while construction sector rose. As for individual stocks, PIK (2.9%), AFK Sistemas (2.1%), NLMK (1.5%), Rosseti (1.5%), and Surgut (1.5%) advanced the most.

Additionally, NorNickel went up by 0.2% despite shrinking its net profit by nearly twice yoy in 2023.

Meanwhile, TCS (-2.2%), Unipro (-2%), Yandex (-2%), and Polymetal (-1.5%) underperformed.

Investors also kept their eyes on Novatek (-0.9%) after the company published its financial results for 2023 and its Board of Directors recommended paying a dividend in the amount of RUB 44.09 per share for the last year, missing market expectations.

Weekly, the index ended 0.5% higher.


MOEX 12 Month Chart
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The ruble-based MOEX Russia index edged up to 3248 on Monday, as IT and construction sectors rebounded.

Still, caution prevailed on market ahead of CBR's policy meeting on Friday.

Among individual stocks, Ozon (5.3%), PIK (3.4%), Unipro (3%), and Etalon (2.9%) rose the most.

Ozon shares advanced in anticipation of positive quarterly results on Wednesday.

Meanwhile, Etalon grew after reporting a nearly 4 times increase in its January sales and exceeding the average monthly level for the second half of last year by 5% despite seasonality.

On the side of declines, AFK Sistema (-2.3%), Polymetal (-1.8%), MMK (-1.4%), Alrosa (-1.3%), and Segezha (-1.3%) stood out.

Polymetal bought the Sergeevskaya Mining and Geological Company from the Okhotsk Mining and Geological Company.
 

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The ruble-based MOEX Russia index closed higher at 3254 on Tuesday, having resumed trade after the technical pause in the middle of the day, as investors awaited corporate results.

Also, muted ruble and elevated oil prices provided support.

Among sectors, IT and construction continued to drive the gains on expectations that interest rates have peaked and the CBR would hold them at current levels during Friday meeting.

As for individual stocks, the top performers were QIWI (5%), Rostelecom (4.8%), and Yandex (4.5%).

Rostelecom increased after announcing the payment of dividends for 2023, while Yandex grew after releasing the largest browser update based on neural networks or other machine learning methods.

In contrast, Aeroflot (-1%) and En+ Group (-1%) dropped.

On the geopolitical front, EU adopted the first law on the use of frozen Russian assets to support the Ukrainian economy and started developing measures for Chinese, Turkish and Indian companies which have ties with Russia
 

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The ruble-based MOEX Russia index closed above flatline at 3258 on Wednesday, inching closer to its highest level since the beginning of full-scale invasion of Ukraine in February 2022, as investors digested corporate updates.

Telecommunications and transport sectors recorded the largest gains, while construction declined.

Among individual stocks, GLTR (2.5%), Magnit (1.9%), Samolet (1.2%), and Rosseti (1.1%) were the most bullish.

On the other hand, Ozon (-1.6%), PIK (-1.5%), Seligdar (-1.2%), MosEnergo (-1.2%), and NorNickel (-1.1%) dropped.

The former fell despite presenting good GMV growth and positive EBITDA for the year.

The company's GMV (turnover) increased by 110% in 2023, higher than its forecast of 90-100% but matching analysts' expectations.

On the macroeconomic front, January inflation figures were released after the closing bell and pointed to still present price pressures.
 

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The ruble-based MOEX Russia index edged up for the fifth session to 3265 on Thursday, erasing morning losses, as investors shrug off concerns about strong inflation data and braced for CBR's meeting tomorrow.

The regulator is widely anticipated to hold interest rates unchanged, but markets' bets on the start of monetary easing vary.

Among sectors, construction, telecommunications and IT recorded strong gains.

As for individual stocks, Rostelecom (3.7%), QIWI (3.4%), PIK (3.4%) and GLTR (3.2%) increased.

On the contrary, TCS Group (-3%) and Mechel (-1%) declined.
 

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Stocks in Russia took a downward turn after the announcement of Alexei Navalny's death, causing the MOEX Russia index to decline by 0.8% on Friday.

The central bank of Russia, meanwhile, maintained interest rates at 16% but projected a longer timeline for reducing borrowing costs.

To achieve its inflation target of 4% by 2024, the bank stated that tight monetary conditions would need to persist.

Economic growth forecasts for 2024 were slightly improved to 1.0-2.0%.

Electric utilities, metals, financials, and oil and gas sectors experienced losses, while construction and IT sectors saw gains.

Poor-performing stocks included Samolet (-3%), Polymetal International plc (-2.8%), and VK International Public JS Com (-1.9%),

while MosEnrg (+1.1%), PJSC Positive Group (+1%), and ALROSA ao (+0.3%) gained.


MOEX 12 Month Chart

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The ruble-based MOEX Russia index closed flat at 3,244 on Monday, holding the muted momentum from the prior week as markets assessed the latest corporate developments and the demand outlook for key Russian commodities.

Companies in the oil sector closed mixed with Bashneft, Tatneft, and Lukoil booking losses while Surgut and Russneft closed higher, with the latter announcing a record-high increase in reserves during 2023.

Reports that multiple tankers in the sanctioned Russian fleet have halted activity amid tightening sanctions from the US, risking the outlook for vital Russian energy revenues for the country.

Still, steady willingness to import energy from India and China limited the negative impact of measures, as the discount between Urals oil and Brent continued to narrow.

In the meantime, Polymetal sank nearly 9% after it announced it would sell its Russian unit to Mangezaya for $3.7 billion.
 

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The ruble-based MOEX Russia index dropped to 3,207 on Tuesday, following the muted session, as investors digested fresh corporate updates and weighed the demand outlook for key commodities.

Almost sectors closed in the red, with transport and chemical recording the largest declines.

Among individual stocks, Polymetal (-7.4%), VTB (-3.1%), GLTR (-2.8%), NorNickel (-2.6%), and Surgut (-2.1%) fell the most.

Polymetal continued the plunge since the move to Kazakhstan and the sale of the Russian business exposed the risks for shareholders, while VTB decreased after presenting financial results for Q4 and 2023 and announcing the possibility of reverse split in summer 2024.

The lender's net profit amounted to record RUB 432.2 billion, but its management decided not to pay dividends for the year.

Additionally, Bashneft lost 2.2% due to disappointing accounts. On the side of gains, Rostelecom (2.1%) and Alrosa (1.6%) increased.
 

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The ruble-based MOEX Russia index fell for the second session to 3,139 on Wednesday, its lowest level in over a month, as threat of EU and US sanctions raised the uncertainty on the market.

All sectors declined, with financials and transport being the most penalized.

As for individual stocks, QIWI collapsed by 35.8% after the CBR revoked license from QIWI Bank due to violation of federal laws and regulations.

Additionally, Polymetal (8.4%), Mechel (-7.9%), and Raspadskaya (-6.7%) dropped.

Mechel and Raspadskaya shares came under the pressure amid news about consideration of coal export duty.

On the side of gains, AFK Sistema (1.3%), Rusal (0.9%), and Moex (0.7%) were the most bullish.
 

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The ruble-based MOEX Russia index closed muted at 3,142 on Thursday, paring some of the morning wins and following two sessions of declines, as investors continued to assess the risks from upcoming sanctions package from EU and the US ahead of the national holiday.

Chemicals, transport and metals sectors ended with the largest gains, while oil & gas underperformed.

As for individual stocks, Unipro (2.7%), NLMK (1.5%), GLTR (1.2%), and Alrosa (1.1%) increased the most.

On the other hand, QIWI (-4.4%), Novatek (-2.4%), and Mechel (-2%) were the most bearish.

Novatek shares fell after UK imposed sanctions against company's top managers and the Arctic LNG-2 project.

In the shortened week, the index accumulated a decline of 3%.
 

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The Moscow Exchange was closed on Friday, February 23, 2024 for Defenders Day

Celebrates the armed forces and commemorates the founding of the Red Army
https://commons.wikimedia.org/wiki/Special:MyLanguage/Commons:Wiki_Loves_Folklore_2024
History
First celebrated in 1919, the holiday marks the date in 1918 during the Russian Civil War when the first mass draft into the Red Army occurred in Petrograd and Moscow (on 17 February).

In January 1919, it was decided to combine the celebration of that day with the anniversary of the publication of the decree on the establishment of the Red Army (of 18 February 1918).

In 1919, 17 February fell on a Monday, so it was decided to move the holiday to the following Sunday, 23 February. That choice of day has been retained ever since.[1] It was originally known as "Red Army Day"
 
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