Russian stock indices resumed growth on Thursday

TASS Russian News Agency | Jan 14, 2021 at 7:18 PM

MOSCOW, January 14. /TASS/. The Russian stock market on Thursday resumed growth amid more positive external environment.

By the end of trading on the Moscow Exchange, the MOEX index rose by 0.59%, to 3,490.85 points, the RTS index went up by 0.93%, to 1,500.58 points.

As of 7:43 pm Moscow time, the dollar-to-ruble rate decreased by 0.49%, to 73.25 rubles, the euro-to-ruble rate fell by 0.6%, to 89.01 rubles.

The dynamics of the Western sites was the main support factor for Russian stocks on Thursday, chief analyst of PSB Bogdan Zvarich said.

In Europe by the evening the main indices added within 0.7%, and in the USA during the first hour of trading the Dow Jones and S&P500 went up by 0.4% and 0.3%, respectively.

On Thursday, the price of Brent crude oil lost 0.4% and fell below $56 per barrel, holding held back purchases in Russian shares, the expert added.

The external information background remains contradictory, said Alexander Bakhtin, investment strategist at BCS Investment World.

"On the one hand, the pressure from the virus factor is clearly growing - new outbreaks of COVID-19 in Japan and China portend tighter restrictions, lockdowns in Europe are extended, in particular due to the emergence of new strains, the death rate from coronavirus in the world has exceeded 16,000 people in 24 hours. On the other hand, investors are waiting for new incentives - US President-elect Joe Biden may announce them in the very near future," the expert said.

On Thursday, shares of the following metallurgical companies were among the favorites: MMK (+4.04%), NLMK (+3.81%), Severstal (+3.71%).

"Metallurgists have reasons for a good mood: China is increasing the purchase of industrial metals and companies have already raised the selling prices for products," said Anna Bodrova, senior analyst at IAC Alpari.