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MMC Norilsk Nickel shares renewed their all-time high

Russia / Business and Finance
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Papers of the leading Russian mining company at the Moscow Exchange on Friday broke through the psychological level of 15,000 rubles per share, setting a new historical maximum in value and having risen in price by almost 3 percent since the beginning of the trading session.

MMC Norilsk Nickel shares renewed their all-time high

Shares of the world's largest nickel producer MMC Norilsk Nickel, having risen in price during trading on the Moscow Exchange on Friday by almost 3 percent, renewed their historical maximum, reaching 15,200 rubles per share.

The previous maximum of 14,868 rubles per share was recorded on June 19 of this year before the dividend cut-off for the payment of annual dividends for 2018. Thus, the shares of Norilsk Nickel have fully won back the dividend gap, which indicates the continuing interest of investors in these securities.

Investor sentiment is influenced by the rapid growth of nickel quotes on the London Metal Exchange . The LME closed Thursday at a record high of $ 14,220 /t, up 21 percent from a month ago.

It is expected that upbeat market sentiment will keep nickel prices high in the short term.

The growth of shares of Russian metallurgical companies on Friday goes along with the entire market, in particular, the increase in the stock indices of the Moscow Exchange and the RTS at the beginning of trading is 0.7-1.1% due to the improvement of the situation on the world capital markets.

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