Russian stock restore after Thursday dive, global markets volatile

MOSCOW, Mar 13 (PRIME) -- The Russian stock market rebounded on Friday to win back the previous day’s loss following the dynamics of the global markets, but the fluctuation can be speculative, analysts said.

The MOEX Russia Index grew 1.31% to 2,316.38 and the RTS rose 2.62% to 991.69.

“The MOEX Russia Index managed to win back most of the previous day’s loss and broke through the 2,400 line several times during the day… The (local) benchmarks are heated with external correction with the U.S. and European markets adding about 4% and the crude price trading in the positive territory,” Freedom Finance analyst Valery Yemelyanov said.

The Brent crude price added around 0.25% to U.S. $33.2 per barrel.

Top bank Sberbank was among the best performers bouncing back to around 200 rubles per share from the year’s lowest of 175 rubles per share, Yemelyanov also said.

Veles Broker analyst Yelena Kozhukhova said that the rise in stocks of Sberbank and metals and mining group Mechel, which added 9.01%, was speculative.

Household appliances and gadgets retailer M.Video lost 5.10% as investors expect a rise in electronic goods prices, which will hurt the company’s performance.

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

Ñompany	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+12.9	198.6	50.434
Gazprom	+1.45	166.1	24.432
Lukoil	-2.16	4414	16.870
Norilsk Nickel	-2.5	18038	14.456
Rosneft	-4.05	266.25	12.519

(74.0274 rubles – U.S. $1)

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