Russian stock market closes with growth on hike in gas prices

MOSCOW, Aug 22 (PRIME) -- The Russian stock market increased on Monday having received support from a solid rise in gas prices in the E.U., analysts said.

The MOEX Russia Index increased by 1.50% to 2,228.11, and the RTS index rose by 0.28% to 1,173.79.

“Mainly Bullish sentiment was seen on the Russian stock market today. The market followed a sharp rise in prices for gas, which is trading around its historic highs. The ruble depreciated slightly on news about upcoming currency interventions,” PSB Bank senior analyst Yegor Zhilnikov said.

The oil and gas sector was the growth driver, specifically the stocks of Novatek and Gazprom, Zhilnikov said. Oil companies also traded quite well despite a fall in oil prices to about U.S. $93.22 per barrel, with Tatneft being the leader and rising by 2.88%.

SPB Exchange entered the top five by the trading volume just before the closing after it announced that the number of securities of foreign companies available for deals in the main trading session increased to 500 from 350, Finam analyst Alexander Kovalyov said.

En+ Group rose by 7.71% thanks to rumors that the company may pay dividends for the first half year, Freedom Finance Global senior analyst Natalya Milchakova.

Seligdar was among outsiders falling by 4.36% in correction after a considerable rise last week, with lower gold being an additional factor, Milchakova also said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	+2.31	181.7	4.109
TCS Group	+0.74	2720	3.506
Sberbank	+0.69	126.06	3.084
Novatek	+6.01	1150.2	2.309
SPB Exchange	+16.76	220.8	1.623

(59.1321 rubles – U.S. $1)

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