Russian stocks advance on increasing oil, corporate news

MOSCOW, Jun 14 (PRIME) -- The Russian stock market traded mixed thanks to an uncertain global environment, and managed to close slightly higher on Tuesday thanks to the support of strong crude prices and local corporate news, analysts said.

The MOEX Russia Index grew 0.19% to 2,289.75 and the RTS increased 0.33% to 1,272.97.

“The Russian stock market failed to demonstrate directed movement thanks on a mixed foreign background. Local stocks were pressured by the dynamics of external bourses, which declined as investors were fleeing from risk,” senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

“On the other hand, the energy market situation is a support factor. The nearest Brent oil futures managed to rise over 2% to the area of U.S. $125 per barrel,” he added.

Veles Broker analyst Yelena Kozhukhova said that Russian stocks tried to grow on corporate stories.

The shares of power utility Unipro jumped by around 20% on the news the company can be sold.

Power company FGC UES and gas giant Gazprom were also among the top gainers rising more than 2.5%.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	+2.75	317.69	15.112
Sberbank	+0.77	118.98	4.455
Unipro	+21.66	1.55	1.793
Lukoil	-0.17	3891.5	1.163
Norilsk Nickel	-1.99	19102	981

(57.7780 rubles – U.S. $1)

End