The Russian market was stable
For most of the day, but did not manage to hold out in the last hour of the trading session on Thursday. Volumes were average. NVTK (+0.6%) kept up the good pace of this week. BANE (-5.8%) continued to slide. SSA (-7.9%) was even weaker after negative news regarding the main shareholder. MBT (-1.7%) was only slightly below the market. TRNFp (+1%) and EDCL (+4.5%) were well bid. GMKN (+0.6%) outperformed, while Golds were weak: PGIL (-2.8%), POLY (-4.6%). In Steels, EVR (- 3.6%) was again sold off. PHOR (-4.8%) went ex-div. MAIL (+1.8%) was strong despite market weakness. In retail, LNTA (+1.3%) held well. SBER (-2.1%) and VTBR (-2.4%) held well.
Alexey Zabotkin, Neil MacKinnon
VTB Capital analyst
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