High oil price, Chinese statistics push Russian stocks higher

MOSCOW, Apr 13 (PRIME) -- Russian stocks increased on Wednesday on the back of high oil prices and positive Chinese statistics, analysts said.

The MICEX rose 1.77% to 1,932.80 and the RTS increased 1.25% to 922.50.

“On Wednesday, the Russian stock indices hit new long-term highs on the background of an overall optimism,” Igor Kovalyov, an analyst at InstaForex, said.

Irina Rogova, an analyst at Forex Club, said that consolidation of oil prices close to Tuesday’s highs supported Russian indices.

Investors were optimistic in anticipation of a meeting in Doha, while if an oil freeze agreement is reached, the gap between demand and supply will narrow in the middle run, the expert said, adding that U.S. statistics did not change the situation significantly.

The stock market was also supported by Chinese exports rise by 11.5% in March for the first time in nine months, Rogova said.

Otkritie Broker’s analyst Andrei Kochetkov said that some state-run companies rose, as market players hope that the government will order state companies to pay 50% of net profit in dividends.

Gas giant Gazprom increased 2.83% to 153.12 rubles after its managing board recommended paying 7.4 rubles per share, or 50% of Gazprom’s net profit, calculated under International Financial Reporting Standards (IFRS), in dividends for 2015.

Vitaly Manzhos, a senior analyst at Bank Obrazovanie, said that investors also welcomed Gazprom’s plans to settle a 760 million euro claim with Italy’s Saipem over cancellation of the South Stream gas pipeline out of court.

Nickel producer Norilsk Nickel jumped 4.48% to 9,121 rubles on the news that the company’s board of directors will consider a Crispian’s offer to buy 1.25 million of Norilsk Nickel’s quasi-treasury shares at a market price, Manzhos said.

Oil producer Bashneft rose 3.52% to 2,722.5 rubles on high oil prices and because American businessman James Rogers showed interest in the company, Kochetkov said.

Multi-industry holding AFK Sistema, which plans to increase dividends, rose 1.9% to 18,750 rubles, according to the expert.

A range of metals exporters were depressed by a strong ruble, Kochetkov said.

Steel maker Novolipetsk Steel (NLMK) went down 1.61% to 85.75 rubles, titanium major VSMPO-Avisma fell 1.74% to 12,410 rubles and gold producer Polyus Gold decreased 1% to 3,671 rubles.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.31	119.50	12.284
Gazprom	+2.83	153.12	8.997
Norilsk Nickel	+4.48	9121.00	6.002
Lukoil	+1.77	2824.00	3.479
Magnit	+3.56	10490.00	3.041

(66.3456 rubles – U.S. $1)

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