Russian stock market increases as oil prices grow, ruble retreats

MOSCOW, Oct 9 (PRIME) -- The Russian stock market increased on Monday amid growing oil prices and the retreating ruble, analysts said.

The MOEX Russia Index rose 0.93% to 3,174.02 and the RTS increased 2.00% to 1,006.92.

“The Russian stock market grew today due to the rise in the oil market. The risks of oil supply disruptions to global markets have risen sharply after the escalation of the conflict in the Middle East. In addition to oil prices, gas prices are also rising,” Sofya Kirsanova, portfolio manager at managing company Pervaya, said.

Amid concerns that the conflict between Israel and Palestine will affect the output of the region's leading oil producers, including Iran through increased U.S. restrictions, oil prices are actively rising, the analyst also said.

The Russian stock market by the end of the main trades was consolidating in the plus receiving support from purchases in some securities, as well as the ruble's retreat from intraday lows, Veles Capital analyst Yelena Kozhukhova said.

According to Promsvyazbank senior analyst Vladimir Lyashchuk, shares of oil and gas companies were in demand amid favorable conditions on the global oil market, which, with a weak ruble, creates expectations of continued payment of high dividends in the future.

Detsky Mir securities outperformed the market increasing by 4.97% amid the news on the share purchase program at a price of 71.5 rubles per share.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.48	264.2	10.832
Lukoil	+1.07	6,870	6.776
Sugutneftegas	-1.3	55.705	3.759
Rosneft	+3.45	552.65	3.333
Gazprom	+0.43	167.3	3.318

(100.4911 rubles – U.S. $1)

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