End of reporting period, weak ruble support Russian stocks

MOSCOW, Aug 14 (PRIME) --The Russian stock market rose on Friday propelled by raw material exporters which were supported by a weak ruble and corporate reports that met or topped investor expectations, analysts said.

The MICEX rose 0.49% to 1,712.47 and the RTS increased 0.75% to 835.17.

“The MICEX index is demonstrating positive dynamics, supported by the raw materials sector, which was backed by the weak ruble. The end of the financial reporting period was also an important growth factor. Most companies’ reports were in line or above market expectations,” Timur Nigmatullin, analyst at Finam, said.

Non-oil exporters’ shares were attractive as the oil price has become volatile, according to Vitaly Manzhos, senior analyst at Bank Obrazovanie.

Titanium producer VSMPO-Avisma jumped 4.52% to 12.020 rubles, nickel producer Norilsk Nickel added 1.94% to 10,061 rubles, and steel maker Severstal increased 1.19% to 705.1 rubles.

Aluminum giant RUSAL grew 5.52% to 306 rubles per Russian depositary receipt as investors expected the company to decide on August 26 to pay dividends for January–June, Alexander Kosyukov, analyst at Veles Capital, said.

Russian oil companies rose, although oil prices have exercised no growth: private oil major Lukoil added 0.51% to 2,561.1 rubles, oil giant Rosneft increased 1.11% to 246.6 rubles and Bashneft rose 0.69% to 1,892 rubles, Veles Capital’s analysts said in a research note.

Russian stocks are likely to be traded flat on Monday due to a lack of growth drivers, analysts said.

Below are the MICEX’ five most active stocks on Friday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.99	74.43	5.436
Gazprom	+0.77	144.80	3.640
Lukoil	+0.51	2561.10	2.992
Norilsk Nickel	+1.94	10061.00	2.688
Magnit	-0.25	12147.00	1.373

(63.9988 rubles – U.S. $1)

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