Russian stock indices MOEX, RTS up by 1.6-2.35% on Monday

TASS Russian News Agency | Feb 15, 2021 at 6:15 PM

MOSCOW, February 15. /TASS/. The Russian stock market was confidently trading in the black on Monday along with foreign stock market and oil prices.

By the evening, the MOEX index increased by 1.60%, to 3,481.90 points, the RTS index went up 2.35% to 1,496.4 points.

As of 6:55 p.m. Moscow time, the dollar-to-ruble decreased by 0.40%, to 73.31 rubles, the euro-to-ruble rate fell by 0.39%, to 89.93 rubles.

The price of a futures contract for Brent crude rose by 1%, to $63.2 per barrel, due to global risk appetite, as well as local factors - the incident in the Middle East with the Houthi drones intercepted by the Saudis and unprecedented frost in the US oil center - Texas, investment strategist at BCS World of Investments Alexander Bakhtin said.

"The general mood has improved thanks to progress in mass vaccinations, a decrease in the rate of spread of coronavirus infection in the world and expectations of the imminent adoption of a large stimulus package for the American economy," the expert added. In turn, the exchanges of China and the United States were closed on Monday due to national holidays.

On Monday, Norilsk Nickel shares were growing (+3.13%) ahead of the publication of financial statements for the fourth quarter of 2020.

"After resolving the situation with the lawsuit due to the fuel spill, the attention of investors will be focused on the company's business, which has good long-term prospects, since the metals mined by the company are in demand during the transition to green energy," chief executive officer of VTB Capital Investments. Vladimir Potapov said.

Meanwhile NLMK shares declined by 0.86% at trading on Monday.

"Despite the significant excess of the company's net profit for 2020, the market forecasts, the company's free cash flow, which is the key to the estimates of dividends, seems to have somewhat disappointed investors," Freedom Finance analyst Alexander Osin said.

This week investors will pay attention to the revision of the structure of the MSCI index - Yandex (-0.32%) may swap places with Norilsk Nickel. "But this is unlikely to have a significant impact on the behavior of securities on the market senior analyst at IAC Alpari Anna Bodrova noted.