Russian stock market rises on positive corporate news

MOSCOW, Nov 14 (PRIME) -- The Russian stock market grew on Monday thanks to good corporate news and the calm external background, analysts said.

The MOEX Russia Index rose 1.23% to 2,244.77 and the RTS increased 1.02% to 1,170.05.

“The week started positively for the Russian stock market on the back of good industry news, as well as the relatively calm external background. It should be noted that during the trade there was no significant volatility, investors were waiting for new triggers to form further dynamics,” PSB Bank senior analyst Yegor Zhilnikov said.

TCS Group was among the leaders of growth without any obvious corporate news, while Detsky Mir shares jumped as they have been oversold for quite some time, he said.

Freedom Finance Global’s Senior Analyst Natalya Milchakova said that moderately positive dynamics, which the Russian stock market demonstrated last week, continued today thanks to positive local news, mostly corporate ones.

Rusagro shares, falling 3.28%, were among the fall leaders after the publication of a weak quarterly report. Rosneft fell under pressure caused by expectations that the government, as the controlling shareholder, will approve the recommendation to pay dividends, she said.

Milchakova also said that statements by the heads of the U.S. and China on the eve of the G20 summit on possible settlement of global conflicts can become a short-term positive driver for the world stock markets, including Russia.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+2.07	139.82	10.408
Gazprom	-0.14	169.63	4.651
Detsky Mir	+12.97	60.44	3.883
Norilsk Nickel	+4.25	15 359	3.019
Rosneft	-1.64	351.1	2.29

(60.2179 rubles – U.S. $1)

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