Russian stocks close higher backed by oil price rebound

MOSCOW, Apr 19 (PRIME) -- Russian stocks increased on Tuesday backed by an oil price rebound and positive dynamics seen at global stock markets, analysts said.

The MICEX rose 1.98% to 1,930.14 and the RTS increased 3.01% to 926.64.

“After an unsuccessful start of the week Russian stock indices have fully won back losses and are again trading above the psychological levels of 1,900 and 900 points at the MICEX and RTS, respectively,” InstaForex analyst Igor Kovalyov said. A return of optimism was encouraged by oil prices reaching the level of U.S. $44 per barrel.

“An outlined increase of oil quotations was partially caused by news about a strike in Kuwait,” Vitaly Manzhos, a senior analyst at Bank Obrazovanie, said. “Anyway, participants of the commodities market have “digested” all negative data connected with news about a fruitless meeting of representatives of a number of oil producing countries in Doha,” the analyst said.

Gas giant Gazprom was among growth leaders rising 6.6% on news that Prime Minister Dmitry Medvedev signed a ruling obliging state companies to pay at least 50% of a net profit in dividends for 2015, Veles Capital analyst Alexander Kostyukov said. Shares of uncut diamond monopoly ALROSA grew 4.15% on the news, the Federal Grid Company of Unified Energy Systems (FGC UES) added 6.24% and Russian Grids grew 5.80%.

Oil company Bashneft closed 2.26% higher on reports that its oil output rose 12.3% on the year to 5.286 million tonnes in January–March.

Magnitogorsk Iron and Steel Works (MMK) decreased 0.52% on reports that its steel production fell 6.3% on the year to 3.025 million tonnes in January–March.

Below are the MICEX’ five most active stocks on Tuesday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+2.79	121.50	16.735
Gazprom	+6.60	155.95	16.060
Lukoil	+1.39	2815.50	3.762
Rosneft	+2.58	311.75	2.859
Norilsk Nickel	-0.31	9241.00	2.462

(68.2724 rubles – U.S. $1)

End