Russian stock market closes with growth following global floors

MOSCOW, Jun 15 (PRIME) -- The Russian stock market rose on Wednesday following optimistic moods on the global floors, analysts said.

The MOEX Russia Index grew by 1.28% to 2,318.96, and the RTS index increased by 0.58% to 1,280.38.

“The bull moods on the local market met the external background as positive dynamics prevailed at the Asian and the European bourses, and the U.S. indices opened with an increase before a decision on the key rate by the Federal Reserve (Fed),” Natalya Pyryeva, analyst at investment company Finam, said.

She attributed optimism of the global floors to higher than expected results in retail and industrial production in China.

The start of the St. Petersburg International Economic Forum where “prospects of the country in the changed conditions will be discussed” may also be considered as somewhat positive news for the local market today, according to Pyryeva.

Veles Broker analyst Yelena Kozhukhova also said that the Russian stock market finished the day with growth thanks to “support from local news and the external background.”

The U.S.’ main stock indices showed growth from 0.4% to 1.5% by the end of the trading session in Russia as some optimism restored before the announcement of the results of the Fed’s meeting and a news conference of its head Jerome Powell to be held later on Wednesday, Kozhukhova said.

The E.U. stock floors showed positive sentiment as well, with the Euro Stoxx 50 rising around 1.6% amid no clear signals from an extraordinary meeting of the European Central Bank devoted to the state bond market, she said.

Petropavlovsk restored after a significant fall of the last few days and grew by 15.45% in correction, Kozhukhova said.

VK jumped by 11.82% thanks to a number of corporate news, including the company’s talks with Prosus over an acquisition of Avito, Kozhukhova said.

Unipro fell 3.87% after a 21% jump on Tuesday caused by the news about a possible sale of a stake in the company by Finnish power giant Fortum, Pyryeva said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	-0.47	316.2	10.720
Sberbank	+1.82	121.14	6.293
Lukoil	+5.74	4115	2.910
Norilsk Nickel	-0.32	19040	1.310
Sberbank prefs	+1.76	116.51	0.936

(57.0926 rubles – U.S. $1)

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