European trade, hopes for Putin-Trump talks support Russian stocks

MOSCOW, Jul 5 (PRIME) -- Russian stocks grew on Thursday supported by rising European markets and by hopes for improvement of the Russia–U.S. relations following a meeting of presidents of the two countries on July 16, analysts said.

The MOEX Russia Index rose 1.86% to 2,346.86 and the RTS increased 2.10% to 1,171.64.

“The national indices grew following the European markets that reacted to budding hopes about solution to the trade crisis. The American administration has at least hinted at a possible softening of its position on import duties on cars. The risk appetite started to grow thanks to that,” Andrei Kochetkov, an analyst at Otkritie Broker, said.

Vladimir Lyashchuk, a senior analyst at Promsvyazbank’s research and strategic marketing department, said that local stocks grew on expectations of improvement in relations between Russia and the U.S.

“Investors have high hopes of the meeting of Russian and U.S. presidents scheduled for July 16 in Helsinki, which may improve relations between the countries, and this reflected in an inflow of money to the Russian stock market,” Lyashchuk said.

Kochetkov also said that shares of Sberbank rose 3.14% as the securities are the major indicator of these positive expectations.

Daniil Yegorov, head of the trade strategies department at Swiss brokerage house Dukascopy Bank S.A., said that national flagship carrier Aeroflot lost 7.71% as the record date for dividends for 2017 was coming close.

Below are the MOEX Russia Index’ five most active stocks on Thursday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+3.14	224.54	11.927
Lukoil	+2.94	4462.00	3.049
Gazprom	+2.33	145.55	2.813
Norilsk Nickel	+0.94	11566.00	2.770
ALROSA	+2.39	107.70	2.333

(63.2267 rubles – U.S. $1)

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