Russian stock edge up thanks to positive corporate reports

MOSCOW, Aug 3 (PRIME) -- The Russian stock market opened lower on Thursday, but managed to bounce back later in the day thanks to sound corporate reports of large companies, analysts said.

The MOEX Russia Index grew 1.33% to 3,147.8 and the RTS increased 0.62% to 1,046.57.

“The Russian stock market started the day with a slight fall, but the dynamics reversed to moderately positive later in the day,” Freedom Finance Global’s Senior Analyst Natalya Milchakova said.

“Publication of sound January–June financial reports by large issuers including (top bank) Sberbank and (state-controlled telecom operator) Rostelecom created a favorable situation for Russian assets,” she added.

However, the local market’s growth was restrained by the continuing ruble weakening and the external background with the core U.S. indices starting the session in the red territory, Milchakova also said.

Senior Trader at managing company Alfa-Capital Vladislav Silayev said that the ruble’s high volatility can be linked to its limited liquidity, large amounts of news, which influence the investors, and misbalance of supply and demand of U.S. dollars on the market.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.11%	268.86	19.046
VTB Bank	+5.16%	0.02692	10.059
Gazprom	+1.47%	176.63	9.490
NCSP	+9.15%	13	6.145
Lukoil	+0.86%	6121.5	5.146

(92.8410 rubles – U.S. $1)

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