Oil price rise, strong ruble support Russian stocks

MOSCOW, Feb 15 (PRIME) -- Russian stocks increased on Monday, supported by an oil price rise and a strong ruble, analysts said.

The MICEX rose 0.72% to 1,738.54 and the RTS increased 2.51% to 707.24.

“Today the Russian market continued growing after a rise on Friday. A new surge on the energy market, where the Brent oil price rose to U.S. $33.5 per barrel, supported demand for Russian assets,” Bogdan Zvarich, an analyst at Finam, said.

The rise of the dollar-denominated RTS was technically sped up by the ruble strengthening against the dollar by the closing bell amid rising oil.

Companies focusing on the domestic market rose thanks to the strong ruble. Internet giant Yandex grew 1.92% to 1,008 rubles and mobile operator MegaFon increased 2.99% to 861 rubles.

Banks were also supported by words of Central Bank First Deputy Chairman Alexei Simanovsky that the banking sector swung to a 32-31 billion ruble combined profit in January. VTB Bank rose 1.88% to 0.0706 rubles.

Diamond mining giant ALROSA grew 3.02% to 1,875 rubles after Russian billionaire businessman Viktor Vekselberg, the main shareholder of multi-industry holding Renova, said that he is considering taking part in privatization of the company.

Magnitogorsk Iron and Steel Works (MMK), which received a $125 million net loss in October–December 2015, decreased 1.36% to 18.79 rubles per share, Vitaly Manzhos, a senior analyst at Bank Obrazovanie, said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.42	95.25	6.577
Gazprom	+1.62	133.43	3.255
Norilsk Nickel	-0.06	8345.00	2.090
Lukoil	+1.38	2429.00	1.764
Magnit	-0.80	9920.00	1.699

(79.4951 rubles – U.S. $1)

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