Russian stocks close slightly higher on favorable foreign backdrop

MOSCOW, Aug 10 (PRIME) -- The Russian stock market failed to follow the encouraging dynamics of foreign bourses and closed with only marginal growth on Wednesday amid continuing uncertainty, analysts said.

The MOEX Russia Index grew 0.69% to 2,151.50 and the RTS increased 0.19% to 1,118.40.

“The Russian stock market finished trading without significant changes failing to get inspired with foreign stock exchanges’ optimism… The MOEX Russia and the RTS indices felt uncertain and their growth stopped near the resistance levels of 2,160 and 1,130,” Veles Broker analyst Yelena Kozhukhova said.

Purchases returned to external bourses thanks to the weakening inflation in the U.S., China, Germany and Italy, she added. The Western markets continue their medium-term upward trend hoping that the inflation peak has passed and the U.S. Federal Reserve will soften its position.

Freedom Finance Global senior analyst Natalya Milchakova said that the Brent oil price fell by 2.02% to U.S. $94.4 per barrel by the evening after Russian oil pipeline monopoly Transneft had resumed oil supplies via the southern string of the Druzhba pipeline.

Precious metals producers Polymetal International was among the best performed surging by 20.99% as the prices for gold and silver have returned to the highest levels seen in late June and early July.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.16	126.2	4.024
Gazprom	-1.23	178.81	3.689
SPB Exchange	+40.22	190	2.666
Norilsk Nickel	-1.19	14970	1.808
Lukoil	-0.13	3890	1.749

(60.3814 rubles – U.S. $1)

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