Russian stocks advance despite neutral global environment

MOSCOW, Dec 18 (PRIME) -- The Russian stock market managed to make another step up on Wednesday with the MOEX Russia Index hitting a new record high of 3,024 despite an uncertain global background, analysts said.

The MOEX Russia Index grew 0.35% to 3,023.92 and the RTS rose 0.13% to 1,522.51.

“The Russian stock market continued its gradual upward motion on Wednesday making another step up amid a neutral external background with global indicators giving no certain signals to local participants,” senior analyst at Promsvyazbank Bogdan Zvarich said.

The MOEX Russia Index hit another record high of around 3,024 amid low volatility. The Brent crude price lost around 0.1%, but is still above U.S. $65.5 per barrel. The main European indices rose around 0.1%, and the U.S.’s Dow Jones and S&P500 benchmarks are seen flat, he added.

Oil and gas pipe maker TMK jumped over 8% on the news the company had received a permit to sell off its U.S.-based facilities, Zvarich also said.

Veles Broker analyst Yelena Kozhukhova said that electronic goods and home appliances retailer M.Video dropped almost 7% on reports about a police search in the apartment of its controlling shareholder Mikhail Gutseriyev and 10 offices of his companies.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.9	246.2	13.601
Gazprom	-0.3	251.29	7.347
Lukoil	+0.39	6250.5	6.291
Norilsk Nickel	+0.63	19626	5.351
Surgutneftegas	+0.24	48.42	3.108

(62.5326 rubles – U.S. $1)

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