Russian stocks advance though global investors flee from risk

MOSCOW, Feb 10 (PRIME) -- The Russian stock market edged up on Thursday despite a generally cautious sentiment on the global market with investors seeming to flee from risk, analysts said.

The MOEX Russia Index grew 0.46% to 3,655.76 and the RTS increased 0.78% to 1,546.79.

“The MOEX Russia Index and the RTS consolidated in the positive territory at the end of the trading session and tried to reach the short-term correction goals of 1,560 and 3,700… despite worsening of some external factors,” Veles Broker analyst Yelena Kozhukhova said.

Investors looked avoiding risk on the global stock exchanges. There is almost no doubt that the U.S. Federal Reserve will raise the key interest rate in March, and the Russian central bank will decide to further tighten the monitory policy at Friday’s meeting, she added.

Russian stocks continued growth attempts despite uncertain signals from negotiations between Russia and the U.K. and stricter rhetoric of the sides as well. 

Metals and mining group Mechel jumped by 10.65% on the news the company had repaid part of its U.S. dollars-denominated loan to VTB Bank early.

Aluminum producer RUSAL surged by 5.93% thanks to aluminum prices reaching new record high of $3,330 per tonne.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.07	278.9	44.309
Gazprom	-1.2	331.06	17.859
TCS Group	+4.95	5980	9.481
Lukoil	+1.1	7050	8.446
Yandex	+2.57	3859.8	7.964

(74.8015 rubles – U.S. $1)

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