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Moscow Exchange Index continues to grow
Moscow Exchange Index continues to grow

The Moscow Exchange shows encouraging results even in the face of Western sanctions. The best testament to strength is another record rally of the Moscow Exchange Index. It has recently reached an all-time high and continues to keep up the pace. The stocks of the largest Russian companies increased in value. The best performers are Enel Russia, Severstal, Aeroflot, Rosneft, Gazprom, and Sberbank. In this context, the Moscow Exchange Index jumped to 2,553.16 points. Notably, Sberbank was the main driver of growth. The preferred shares of the bank increased by 1 percent, while ordinary shares rose by 0.84 percent to 200.58 and 229.42 rubles, respectively. The NLMK's shares surged by 1.07 percent to 175.84 rubles. The stocks of Gazprom Neft, Surgutneftegaz, and Bashneft were traded at a higher price as well.

According to experts, the growth was due to more favorable "external environment". The stock exchange representatives are sure that the external environment is changing for the better. The market may propel the benchmark index to a new high in the range of 2,500 – 2,550 points. The bulk of the first-tier shares will be among the leaders. If the domestic economy does not face any stumbling blocks like a new round of sanctions or a slump in oil prices, Russia’s stock market will have every chance of extending a steady rally.

Published: 2019-04-17 11:26:48 UTC
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