Russian stocks advance on increasing oil, metals prices

MOSCOW, Jun 11 (PRIME) -- The Russian stock market grew on Friday thanks to rising prices for oil and industrial metals, analysts said.

The MOEX Russia Index grew 0.36% to 3,841.53 and the RTS increased 0.07% to 1,678.57.

“The MOEX Russia and the RTS indices continued reaching new highs of 3,849 (a record high) and 1,692 (the highest level since March 2012), respectively. The market retains the upward trend despite it is overbought… but the possibility of correction is increasing,” Veles Broker analyst Yelena Kozhukhova said.

Optimism was seen on stock exchanges around the globe, despite bad inflation data, published by the U.S. recently, she added.

Otkritie Broker analyst Andrei Kochetkov said that the Russian market is ready to continue growth despite the central bank’s decision to raise the key interest rate to 5.5%, thanks to rising crude prices with the Brent oil price testing the U.S. $73 per barrel mark and increasing industrial metals prices.

Kozhukhova said that steelmaker Novolipetsk Steel (NLMK) of businessman Vladimir Lisin was among the top gainers rising 3.23% on the shareholders’ decision to pay 7.71 rubles per share in dividends for January–March.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	+0.14	276.5	6.607
Sberbank	-0.51	313.01	6.449
ALROSA	+0.59	135.26	4.740
Yandex	+1.08	5060	4.164
Rosneft	-0.63	536.2	4.020

(72.1974 rubles – U.S. $1)

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