The Russian stock market ended the week on a positive note: on Friday, the Moscow Exchange index was able to reach above 2,800 points, and over the weekend it added another 0.9%. The sharp escalation of the situation in the Middle East, leading to fears of disruptions in oil and gas supplies from the Persian Gulf and a prolongation of the acute phase of the conflict, led to a massive surge in demand for shares in the oil and gas sector (LUKOIL and Surgutneftegaz, which lagged significantly behind the market), and precious metals producers, which set a record for weekend trading led by YUGK and Polyus. The remaining sectors, on the contrary, experienced some capital outflow.
Increased uncertainty about the possibility of a complete or partial closure of the Strait of Hormuz, through which about a fifth of oil and a seventh of LNG are transported, gives reason to expect increased demand and export prices (both due to rising world prices and due to a reduction in the Urals discount to Brent) for Russian oil. And, as a result, it will be able to support demand for "weighted" shares in the oil and gas sector in the coming days, due to which the Moscow Exchange index finally has a resource to consolidate in a higher price range, the 2800-2900 point zone.
Evgeny Loktyukhov, Head of the Department of Economic and Industry Analysis, PSB.The "Comments" section of the AK&M news agency publishes materials submitted by Russian and foreign investment companies and banks. Their opinions may not coincide with the opinion of the editorial staff of the AK&M agency. The opinions presented in the comments are expressed taking into account the situation at the time of publication of the material. The comments are for informational purposes only; they do not constitute an offer or advice on the purchase or sale of securities. For questions about the placement of information in this section, please contact the agency's editorial office by phone (499) 132-61-30 ext. 0102.
