The Russian stock market corrected upward on Friday amid improved external conditions and a reduction in the key rate of the Bank of Russia immediately by 150 basis points (to 8% per annum), the Moscow Exchange index rebounded above 2090 points, led by securities of financial and oil companies.
As a result of trading, the Moscow Exchange index amounted to 2096.75 points (+2.1%), the RTS index – 1161.47 points (+1.7%); prices of the majority of „blue chips” on the „Moscow Exchange” rose within 5.8%.
The dollar rose to 56.93 rubles (+0.28 rubles), during the day the rate rose to 58.65 rubles/$1.
Over the week, the RTS and Moscow Exchange indices sank by 0.01-0.6%, the dollar fell by 0.24 rubles.
On Friday, shares of Yandex (+5.8%), TCS Group receipts (+5.4%), LUKOIL (+4.2%), AFK Sistema (+4.2%), Rosneft (+3.6%), MMK (+3.1%), NOVATEK (+3.1%), Moscow Exchange (+3%), Sberbank (+2.7% and +2.9% of preferred shares), ALROSA (+2.5%), Surgutneftegaz (+2.3% and +0.3% of preferred shares), Magnit (+2.1 %), Gazprom Neft (+1.7%), Gazprom (+1.4%), NLMK (+1.4%), Tatneft (+1.4%), RusHydro ” (+1.3%), OZON receipts (+1.3%), shares of VTB (+1.2%), Severstal (+1%), MTS (+0.8%), ” Inter RAO” (+0.2%).
Shares of Polymetal (-9.2%), UC Rusal (-2.9%), PJSC Polyus (-2.7%), Aeroflot (-1%), Norilsk Nickel (-0.5%) fell in price %).
At a meeting on Friday, the Bank of Russia lowered the key rate stronger than market expectations and gave a signal that it would assess the feasibility of lowering the rate in the second half of 2022. Thus, the Central Bank of the Russian Federation expects the average key rate by the end of 2022 to be in the range of 7.4-8.0%, while the June forecast was 8.5-9.5%.