Russian stocks close higher backed by foreign optimism

MOSCOW, Apr 7 (PRIME) -- Russian stocks increased on Tuesday supported by optimism on foreign floors and corporate news, analysts said.

The MOEX Russia Index grew 0.46% to 2,634.74 and the RTS rose 1.51% to 1,099.76.

“By the end of trading, the MOEX Russia Index and RTS retreated from the highs of the day amid some weakening of optimism abroad,” Veles Capital analyst Yelena Kozhukhova said.

The foreign background was moderately positive. Trading on the U.S. bourses started with an increase of three main indices, which were gaining 0.6–1.8% by the end of the Russian session. Moderately positive moods were seen on European floors.

Brent and WTI oil quotations retreated from the session’s peaks by the evening and traded mixed within 1%. Market participants are waiting for news about prospects of a deal by oil producing countries.

Metals and mining company Mechel was among growth leaders, with its common and preferred shares adding 3.5% and 3.76%, respectively. Electronics retailer M.Video added 2.97%.

Multi-industry holding Sistema added 0.07% after reporting that its adjusted net profit soared to 26.837 billion rubles in October–December 2019 from 200 million rubles in the same period in 2018, as calculated under International Financial Reporting Standards (IFRS).

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+3.63	193.02	26.939
Gazprom	+0.06	191.22	12.911
Rosneft	-1.02	339.50	9.871
Lukoil	-0.87	5118.00	9.507
Norilsk Nickel	+0.97	19780.00	7.509

(76.4074 rubles – U.S. $1)

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