Russian stocks close higher on record oil, gas prices

MOSCOW, Oct 5 (PRIME) -- The Russian stock market grew on Tuesday as the oil prices remained near the record highs, while the gas prices in Europe set new records, analysts said.

The MOEX Russia Index grew 2.70% to 4,223.85, and the RTS index increased 3.04% to 1,840.11.

"The global stock market indicators started to recover at the beginning of the day, and growth accelerated after our launch. The oil prices have consolidated near many-months highs. The Russian stocks continued to rise after a positive start on this background," Dmitry Babin, stock market expert at BCS World of Investment, said.

Investors still hope for a buyout after the last fall of the risky assets in spite of a need to cut the supporting measures of the central banks across the world, the analyst said.

Yevgeny Linchik of Sber Asset Management said that a cautious OPEC plus policy propelled Brent to above U.S. $81.7 per barrel, a three-year record. The gas prices in Europe set a new record, exceeding $1,250 for 1,000 cubic meters, and as a result, Gazprom and Gazprom Neft (+5.21%) reached new highs during the session. 

He said that the September Services Purchasing Managers' Indices (PMIs) of the European countries  exceeded market expectations, which additionally supported the global markets.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	+2.43	385.2	46.631
Sberbank	+4.76	362.3	28.750
Lukoil	+2.91	7342	11.564
Rosneft	+3.2	651.9	9.418
Norilsk Nickel	-0.04	21628	7.359

(72.9239 – U.S. $1)

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