MOSCOW, November 8. /TASS/. Russian stock indices showed mixed dynamics by the end of the trading session on the Moscow Exchange on Wednesday.
The MOEX index edged down by 0.03% to 3,245.43 points, the dollar denominated RTS index increased by 0.53% to 1,113.03 points.
The yuan exchange rate decreased by 0.054% to 12.62 rubles, the dollar rate dropped by 0.24% to 92.02 rubles, the euro rate went down by 0.16%, to 98.51 rubles.
"The mood of buyers was affected by the decline in oil prices and the trend of the ruble to strengthen. In the meantime, the overall dynamics were influenced by the heavyweight shares of Sber, which rose amid the statements of top management about expected record figures in 2024," Alexander Bakhtin, investment strategist at the BCS world of investments said.
Sentiments on world exchanges remain unstable, the expert noted.
"Tough geopolitics, ambiguous European and Chinese statistical data, and the expectation of a longer period of high rates are cooling the overall risk appetite," the expert added.
On Wednesday, shares of the following Russian companies were among the leaders of growth: preferred and ordinary shares of Mechel (+4.88% and +2.61%), shares of NCSP (+2.82%), securities of Sovcomflot (+2.55%), receipts Globaltrans (+2.32%), TMK shares (+2.27%), ordinary shares of Sberbank (+1.50%), shares of Bank St. Petersburg (+1.44%) and Alrosa (+1.31%).
"Mechel’s shares continued to be in high demand, apparently in anticipation of an increase in purchases of Russian coal in the Asian region. This week in India they announced that they want to increase supplies of coking coal from Russia. Hopes for improvement of the company's debt situation is another positive factor for Mechel. On Wednesday, the company’s ordinary shares rose to their highest since March 2012, and preferred shares to their highest since February 2022," says Veles Capital analyst Elena Kozhukhova.
Sberbank, according to its CEO Herman Gref, will approve the dividend policy at the supervisory board on December 5 and present it to the market at the Investor Day. "The bank does not plan major changes in the size and frequency of dividend payments and still expects record profits for 2023, including for the entire banking sector of Russia. Sberbank ordinary shares on Wednesday renewed their peak since February 2022 and continue to move towards 300 rubles," adds Kozhukhova.
G7 countries said they were unable to agree on sanctions on Russian diamond exports. "The foreign ministers of the EU countries will continue consultations on the ban on the trade in diamonds from the Russian Federation on November 13. After the news, Alrosa shares rose, but overall remain under short-term and medium-term downward pressure," the expert explains.
At the end of the session, the leaders of the decline were Rusagro receipts (-2.79%), Gazprom Neft shares (-2.25%), Etalon receipts (-1.61%), and Segezha securities (- 1.29%), shares of Severstal (-1.11%) and shares of MMC Norilsk Nickel (-0.94%).
According to a forecast by the BCS World of Investments, on November 9, the MOEX index will be in the range of 3,200-3,300 points, at the dollar exchange rate is expected to amount to 91.5-93.5 rubles. Freedom Finance Global predicts that the MOEX index will again show fluctuations in the range of 3,200-3,300 points, the dollar exchange rate will trade in the range of 91-93 rubles, the euro will be in the range of 97-99 rubles, the yuan will stay in the range of 12.4-12.9 rubles.