The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksPOG.L Share News (POG)

  • There is currently no data for POG

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Rouble firms past 80 vs dollar, Petropavlovsk shares fall sharply

Fri, 15th Apr 2022 15:15

April 15 (Reuters) - The Russian rouble firmed past 80 per dollar on Friday and stock indexes inched higher, while shares in gold producer Petropavlovsk underperformed the broader market in Moscow trade and at one point fell more than 20% on the day.

Russian shares in Petropavlovsk, which is also listed in London, extended sharp losses suffered on Thursday after the company said it was considering putting itself up for sale, following sanctions on Russia and the risk of countermeasures.

Petropavlovsk shares were down 14% at 8.74 roubles ($0.11) apiece as of 1500 GMT.

The benchmark rouble-based MOEX Russian index pared earlier losses and rose 0.8% to 2,423.9 points, and the dollar-denominated RTS index gained 1.8% to 958.2 points.

The MOEX index is likely to consolidate within the range of 2,400-2,450 on Friday, Promsvyazbank analysts said, adding that there were no strong factors capable of supporting the Russian market at the moment.

Shares in Russia's largest lenders Sberbank and VTB, both sanctioned by the west, added around 1.5% the day after a central bank official said it was quite possible that the Russian banking sector would lose half of its capital.

The Russian financial sector and economy have taken a hit from unprecedented western sanctions designed to punish Moscow for what it calls "a special military operation" in Ukraine that started on Feb. 24.

Russian authorities pledged to support the stock market with money from the rainy-day National Wealth Fund and have imposed capital controls that helped the rouble to recover from all-time lows hit in March.

The rouble gained 1.5% to 79.71 against the dollar , having pulled back from a record low of 121.52 hit on the Moscow Exchange on March 10.

On electronic trading platform EBS, where the rouble fell as low as 160 to the greenback on March 7, the currency traded at 84 on Friday.

Against the euro, the rouble firmed 2% to 85.26 .

The rouble eased this week after the central bank scrapped a 12% commission for buying foreign currency through brokerages and promised to lift a temporary ban on selling foreign exchange cash to individuals from April 18.

But the rouble retains support from export-focused companies that are still obliged to sell their foreign exchange revenues on the domestic market.

This month, companies in Russia are due to pay a record 3 trillion roubles ($37.6 billion) in taxes, for which some export-focused companies need to sell foreign currency, according to analysts surveyed by Reuters. ($1 = 79.77 roubles) (Reporting by Reuters; Editing by Edmund Klamann and Hugh Lawson)

More News
22 Nov 2021 17:03

LONDON MARKET CLOSE: FTSE 100 perks up on Powell reappointment news

LONDON MARKET CLOSE: FTSE 100 perks up on Powell reappointment news

Read more
16 Nov 2021 09:38

LONDON BROKER RATINGS: TT Electronics and Trainline called Buys

LONDON BROKER RATINGS: TT Electronics and Trainline called Buys

Read more
16 Nov 2021 08:15

LONDON BRIEFING: Vodafone lifts FTSE 100 after raising profit guidance

LONDON BRIEFING: Vodafone lifts FTSE 100 after raising profit guidance

Read more
28 Oct 2021 22:01

IN BRIEF: Petropavlovsk investee IRC in third quarter output fall

IN BRIEF: Petropavlovsk investee IRC in third quarter output fall

Read more
25 Oct 2021 10:03

UPDATE 2-FTSE 100 ends higher on oil, mining boost; HSBC hits 4-month high

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* HSBC reports better-than-expected results* Darktrace slumps on brokerage initiating 'sell' coverage* Inflation pressure from energy prices ...

Read more
25 Oct 2021 08:25

Petropavlovsk confirms 2021 guidance despite fall in gold output

Petropavlovsk confirms 2021 guidance despite fall in gold output

Read more
25 Oct 2021 07:45

Petropavlovsk Q3 output falls, but holds annual guidance

(Sharecast News) - Miner Petropavlovsk said third-quarter production fell 2%, but maintained full-year output guidance.

Read more
13 Oct 2021 16:09

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more
1 Sep 2021 09:58

Petropavlovsk says declining revenue is due to "transitional period"

Petropavlovsk says declining revenue is due to "transitional period"

Read more
1 Sep 2021 07:41

Petropavlovsk returns to first-half profit despite lower gold sales

(Sharecast News) - Petropavlovsk reported gold sales of 187,100 ounces in its first half on Wednesday, down 40% year-on-year, which it said was consistent with the decrease in total gold production during the period.

Read more
31 Aug 2021 11:53

Wednesday preview: Petropavlovsk, 888 results in focus

(Sharecast News) - Wednesday's session is set to be fairly quiet on the corporate front, although results are due from Petropavlovsk and 888 Holdings.

Read more
27 Aug 2021 09:07

Petropavlovsk investee IRC posts record first-half profit

Petropavlovsk investee IRC posts record first-half profit

Read more
25 Aug 2021 15:52

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more
21 Jul 2021 11:07

Petropavlovsk affirms production guidance despite uninspiring half

Petropavlovsk affirms production guidance despite uninspiring half

Read more
21 Jul 2021 09:59

Petropavlovsk posts 39% drop in H1 output

(Sharecast News) - Gold miner Petropavlovsk reported a 39% drop in first-half output on Wednesday but stated a higher gold price had partially offset the impact.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.