Retired many years ago
- 19 July 2006
The ruble-based MOEX Russia index erased early gains to close slightly lower at 2,167 on Thursday, notching its third straight session in the red as losses for energy and fertilizer producers outweighed gains for miners and metallurgists. Oil and natural gas producers extended their slide to...
The MOEX Russia Index reversed early losses to close higher at 2,227, rebounding from yesterday’s drop as investors continued to assess the outlook for the Russian economy and the CBR’s guidance.
Weekly CPI data pointed to the first increase in consumer prices since May, easing expectations of further rate cuts by the central bank.
Still, the tech sector pared steep losses and closed sharply higher, with Yandex and M Video gaining 3.5% and 5.5%, respectively.
Despite the stronger ruble, the rebound in commodity prices lifted mining stocks, led by Polymetal and Petropavlovsk.
In the meantime, Gazprom added 1.3% as investors continued to assess the outlook of gas supply to Europe.
Last week, the state-backed giant cancelled dividend payments from a record-setting 2021, plunging nearly 40% and sending the MOEX index into 2-month lows.