Russian stocks advance in line with foreign bourses, oil prices

MOSCOW, Nov 29 (PRIME) -- The Russian stock market tried to grow rapidly in the morning on Tuesday, but then bounced back from the peaks to consolidate lower in the positive territory during the day thanks to a generally positive environment, analysts said.

The MOEX Russia Index grew 0.36% to 2,185.32 and the RTS increased 0.56% to 1,128.71.

“The MOEX Russia Index and the RTS managed to stay above the support levels of 2,160 and 1,100, respectively, but no significant movement was seen on the market,” Veles Broker analyst Yelena Kozhukhova said.

“Some gold producers again demonstrated confident dynamics, but the broad market consolidated waiting for new ideas and news, including news about the oil price capping,” she added.

Restrained optimism was seen on foreign stock exchanges thanks to the weakening of fears about a slowdown of the Chinese economy, and crude oil prices remained in the positive territory in the evening rising by around 2.5%, Kozhukhova also said.

Alexei Golovinov, chief analyst at PSB Bank, said that the local benchmarks tried to correct upwards in the first part of the day after three consecutive days of fall thanks to a favorable foreign background, but then bounced back from the intraday highs and consolidated until the end of the trading session.

He said that gold producers advanced thanks to gold prices reaching U.S. $1,770 per ounce. Polymetal International grew by 2.25% and Polyus rose by 1.08%.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.97	136.85	3.809
Polyus	+1.08	7228	2.664
Yandex	+3.49	1981	2.178
Lukoil	-0.37	4607	1.959
Gazprom	-0.06	168	1.555

(60.7520 rubles – U.S. $1)

End