Russian stocks close higher as oil quotations increase

MOSCOW, Jun 22 (PRIME) – The Russian stocks edged up on Monday thanks to a slight increase of oil prices, analysts said.

The MOEX Russia Index rose 0.17% to 2,763.29 and the RTS increased 0.57% to 1,256.77.

“The MOEX Russia Index and the RTS Index have won back the ground they lost in the morning thanks to improvement of the external background,” with the growth of oil prices being the major driver, Yelena Kozhukhova, analyst at Veles Capital, said.

Otkritie Broker senior analyst Andrei Kochetkov said that the foreign bourses again demonstration uncertainty as chances for a second wave of the COVID-19 are rising, and the fact that the central banks are ready to put out any fires with money does not stop any viral threats.

“The Russian market’s reaction is calm because the oil prices refrain from a noticeable contraction. But there was no strength for growth,” Kochetkov said.

The Brent oil price grew by 0.995% to U.S. $42.61 per barrel as of 6.42 p.m. Moscow time, according to the ICE exchange.

 “The global markets returned to the topic of a second wave of the pandemic. The record infection rates in some U.S. states lead to partial sales in risky assets. The Asian floors closed up to 0.5% lower, while Europe started the week with a weak downward correction of about 0.2–0.3%. The futures for the U.S. stock indices grew by up to 1% during the day, which gave some hope for a rebound,” Valery Yemelyanov, analyst at investment company Freedom Finance, said.

Kochetkov also said that shares of gold producer Polyus grew by 2.38% to 11,330.50 rubles as the gold prices grew.

National flagship carrier Aeroflot fell by 0.68% to 81.14 rubles as its passenger traffic fell by 47.8% in January–May, he said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.91	205.12	11.718
Gazprom	-0.98	193.90	6.909
Lukoil	+0.02	5461.00	5.101
Norilsk Nickel	+0.51	19100.00	4.539
Polyus	+2.38	11330.50	2.868

(69.5725 rubles – U.S. $1)

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