Optimistic global background pushes Russian stocks upwards

MOSCOW, Nov 18 (PRIME) -- The Russian stock market edged up on Wednesday following global positivity including the Brent oil price reaching U.S. $44.4 per barrel, analysts said.

The MOEX Russia Index grew 0.93% to 3,080.68 and the RTS increased 1.45% to 1,276.75.

“The Russian stock market managed to continue the upward dynamics thanks to the support of external factors. Purchases of local shares were backed by the energy market with the nearest Brent oil futures adding around 1.5% to $44.4 per barrel, and the dynamics of Western bourses,” senior analyst at Promsvyazbank Bogdan Zvarich said.

Major European indices rose up to 0.4%, and the U.S. Dow Jones grew 0.3% in the first minutes of trade, he added.

Oil major Rosneft was among the top gainers increasing 3.79% on the news that its board of directors had approved selling a 10% stake in Vostok Oil, a joint project with Eduard Khudainatov’s Neftegazholding, to Singapur’s Trafigura.

Veles Broker analyst Yelena Kozhukhova said that grocery retailer Magnit grew to the positive territory at the end of the trading session on the decision to pay 245.31 rubles per share in dividends for January–September.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.62	244.18	13.031
Gazprom	+1.59	185.81	11.760
Rosneft	+3.79	455.5	8.373
Lukoil	+1.94	4958.5	6.247
Sistema	+1.27	32.14	4.186

(76.2530 rubles – U.S. $1)

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