20.01.2020, 11:08
Shares of Rusal in Hong Kong Rose by More Than 14%
Source: OREANDA-NEWS
OREANDA-NEWS. Shares of Rusal on the Hong Kong Stock Exchange went up by 14.2%, to 4.92 Hong Kong dollars per share ($ 0.63). This is evidenced by the data of the trading platform. At 11:13 Moscow time, quotes of the company adjusted growth and are trading at 4.83 Hong Kong dollars per share (+ 12%).
At the Moscow Exchange, securities of the company rise in price by 4.6%, to 38.7 rubles. At the same time, the maximum share price reached 39.64 rubles. apiece, which is higher than the closing level of previous auctions by 7.1%. The last time the stock price was above this mark at the end of February 2018.
Maxim Khudalov, senior director and head of the ACRA Sustainability Risk Assessment Group, associates the growth of Rusal shares with the growth of Norilsk Nickel quotes, in which Rusal is the second largest shareholder with a share of 27.8%. Norilsk Nickel securities are growing in price amid rising palladium prices, which, in turn, leads to high dividends from the company. Shares of Norilsk Nickel, as noted by BCS Global Markets analyst Artem Baghdasaryan, since the beginning of 2019 have grown by 11%.
Rusal is the largest aluminum producer outside of China and the only primary aluminum producer in Russia. Rusal also owns the second largest block of shares (27.8%) of Norilsk Nickel, the world's largest producer of nickel and palladium.
At the Moscow Exchange, securities of the company rise in price by 4.6%, to 38.7 rubles. At the same time, the maximum share price reached 39.64 rubles. apiece, which is higher than the closing level of previous auctions by 7.1%. The last time the stock price was above this mark at the end of February 2018.
Maxim Khudalov, senior director and head of the ACRA Sustainability Risk Assessment Group, associates the growth of Rusal shares with the growth of Norilsk Nickel quotes, in which Rusal is the second largest shareholder with a share of 27.8%. Norilsk Nickel securities are growing in price amid rising palladium prices, which, in turn, leads to high dividends from the company. Shares of Norilsk Nickel, as noted by BCS Global Markets analyst Artem Baghdasaryan, since the beginning of 2019 have grown by 11%.
Rusal is the largest aluminum producer outside of China and the only primary aluminum producer in Russia. Rusal also owns the second largest block of shares (27.8%) of Norilsk Nickel, the world's largest producer of nickel and palladium.
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