Thursday, September 13, the price of Bank shares on the Moscow stock exchange exceeded 189 rubles, which was the maximum since the beginning of the month
Photo: Oleg Yakovlev / RBC
Sberbank shares on the Moscow stock exchange rose sharply during trading on Thursday, September 13, the value of the securities rose to the level of 189,04 rubles, which is 8.7% above the closing level of the previous trading session (173,9 RUB).
The growth of quotations allowed to circumvent LUKOIL in the list of most expensive companies in Russia. However, the company is then again reversed, though the gap between them remained minimal.
To 18:15 GMT the price of Sberbank shares on Moscow stock exchange amounted to RUB 183,88 (+5.74 per cent to the closing of the previous auction) and the price of papers of LUKOIL — 4865 RUB (+1,38%). The capitalization of both companies fluctuated at this point, some below $ 4 trillion.
The most expensive company of Russia remains Rosneft’s market capitalization which at this time amounted to more than 4.6 trillion rubles.
The growth of Sberbank’s shares occurs on the background of reduction of fears Russian financial market about tough sanctions from the United States, according to the analyst of Raiffeisenbank Denis Poryvai. “Bank stocks fell amid worries about the possible imposition of sanctions against them. But now, watching the deliberations of Congress of a bill to the Kremlin’s aggression, we do not see bans any Russian financial institutions to pay in dollars. Then there is no reason to hold short positions, which caused a growth stock,” says Poryvai.
With the growth of Sberbank shares is dictated by the absence of concerns about the imposition of sanctions on the Russian financial market, agrees and senior banking sector analyst of the company “Aton” Michael Ganelin. “Investors now have the understanding that sanctions are not affected by the financial sector,” Ganelin says.