AVN 67.22 Increased By ▲ 2.37 (3.65%)
BOP 8.85 Increased By ▲ 0.15 (1.72%)
CHCC 127.50 Increased By ▲ 3.29 (2.65%)
DCL 9.07 Increased By ▲ 0.17 (1.91%)
DGKC 102.43 Increased By ▲ 1.54 (1.53%)
EFERT 61.67 Increased By ▲ 0.07 (0.11%)
EPCL 44.68 Increased By ▲ 1.68 (3.91%)
FCCL 20.63 Increased By ▲ 0.23 (1.13%)
FFL 14.32 Increased By ▲ 0.50 (3.62%)
HASCOL 14.05 Increased By ▲ 0.48 (3.54%)
HBL 129.94 Increased By ▲ 1.12 (0.87%)
HUBC 79.34 Increased By ▲ 0.84 (1.07%)
HUMNL 6.55 Increased By ▲ 0.05 (0.77%)
JSCL 23.08 Increased By ▲ 0.78 (3.5%)
KAPCO 28.14 Increased By ▲ 0.51 (1.85%)
KEL 3.70 Increased By ▲ 0.09 (2.49%)
LOTCHEM 12.70 Increased By ▲ 0.23 (1.84%)
MLCF 37.29 Increased By ▲ 0.77 (2.11%)
OGDC 103.34 Increased By ▲ 5.80 (5.95%)
PAEL 31.95 Increased By ▲ 1.10 (3.57%)
PIBTL 12.10 Increased By ▲ 0.23 (1.94%)
PIOC 86.00 Increased By ▲ 2.50 (2.99%)
POWER 9.29 Increased By ▲ 0.12 (1.31%)
PPL 93.63 Increased By ▲ 5.71 (6.49%)
PSO 194.93 Increased By ▲ 4.65 (2.44%)
SNGP 42.98 Increased By ▲ 0.24 (0.56%)
STPL 13.40 Increased By ▲ 0.15 (1.13%)
TRG 57.13 Increased By ▲ 4.23 (8%)
UNITY 23.50 Decreased By ▼ -0.12 (-0.51%)
WTL 1.01 Increased By ▲ 0.01 (1%)
BR100 4,246 Increased By ▲ 52.27 (1.25%)
BR30 21,373 Increased By ▲ 284.44 (1.35%)
KSE100 40,901 Increased By ▲ 523.23 (1.3%)
KSE30 17,269 Increased By ▲ 252.93 (1.49%)
Markets

Rouble weakens, Sberbank and Aeroflot shares fall

  • At 0727 GMT, the rouble was 0.9pc weaker against the dollar at 78.04, heading back towards 79.9750 which it touched on Tuesday and was the weakest level since March.
02 Oct 2020

MOSCOW: The Russian rouble fell on Friday after two days of gains, hit by a slump in oil prices and rising risk aversion globally after US President Donald Trump tested positive for COVID-19.

At 0727 GMT, the rouble was 0.9pc weaker against the dollar at 78.04, heading back towards 79.9750 which it touched on Tuesday and was the weakest level since March.

The rouble has recently been under pressure from geopolitical risks related to the turmoil in neighbouring Belarus, the suspected poisoning of Kremlin critic Alexei Navalny and a military conflict in the South Caucasus.

News that President Trump had tested positive for COVID-19 a month away from an election added fuel to the global risk aversion, denting the rouble.

The Russian central bank cushions losses in the rouble with its daily selling of foreign currency, which was set to increase by the equivalent of 2.9 billion roubles ($37.17 million) a day in October as part of the bank's deal to sell a stake in Russia's largest lender Sberbank to the finance ministry.

Versus the euro, the rouble lost 0.7pc to 91.50, moving closer to 93.32, its weakest level since early 2016 hit this week.

On the stock market, shares in Sberbank fell 8pc on the day to 209 roubles apiece as they went ex-dividend, meaning dividend allocations have been determined and the stocks lost the dividend value.

Shares in Russia's top air carrier Aeroflot slipped 3pc after the company announced its plan to raise at least 80 billion roubles ($1.02 billion) in a secondary public offering.

Shares in business conglomerate Sistema jumped nearly 3pc on the day after reports that online retailer Ozon, part-owned by Sistema, was considering an initial public offering in the United States later this year.

Russian stock indexes were down, pressured by a 2.7pc slump in Brent crude oil to $39.83 per barrel. The dollar-denominated RTS index fell 2.8pc to 1,141.8 points.

The rouble-based MOEX Russian index was 2pc lower at 2,832.5 points.