Russian trading floors mixed at close

MOSCOW, August 25 (Itar-Tass) —— Stock market trading in Moscow today closed moderately lower. The MICEX index closed 1.31 percent lower at 1,442.51 points, and the RTS index, 1.08 percent lower at 1,583.97 points.

The top gainers of the day were preferred shares of Transneft (3.56 percent), the leaders of downfall, shares of the Magnit retail chain (-9.09 percent) and OGK-3 (-5.99 percent).

In the first half of the day the Russian stock market was trying to continue the growth that began on Wednesday. After the publication of unfavorable macroeconomic data it developed a rapid fall, but in the afternoon rose into the “green zone.”

“The data on unemployment in the U.S. confirm that the global economy is slowing down, all fear recession and therefore sell assets, so Russian shares get cheaper. The bond market is full of uncertainty,” said the managing director of the MDM management company, Pavel Krapchitov. The head of the analytical department at the investment company IT Invest Prospect, Alexander Potavin, says the uncertain dynamics of trading in Europe leaves no chance for growth on Russian floors. He said that on Thursday afternoon Russian stock indexes were near zero marks. The MICEX average was up to the week’s high, reaching 1,480 points. However, the uncertain dynamics of trading in Europe stalled the uptrend.




Leave a comment