Russian stocks continue growth amid rising oil prices

MOSCOW, Apr 23 (PRIME) -- Russian stock indices grew on Tuesday, as they continued to receive support from rising oil prices, analysts said.

The MOEX Russia Index rose 0.11% to 2,587.48 and the RTS increased 0.17% to 1,277.71.

“By the end of trading on Tuesday, the MOEX Russia Index and the RTS Index retreated from the maximums of the year reached during the day, but tried to keep in positive territory,” Veles Capital analyst Yelena Kozhukhova said.

The U.S. stock floors opened with a small growth of three main indices, which were adding 0.4–1% by the end of the Russian trading session. Trading in Europe resumed after Easter holidays on a moderately optimistic note.

Oil quotations remained in plus, adding around 1–1.5%.

Power producer Inter RAO and retailer Magnit were among growth leaders, adding 2.93% and 2.7%, respectively. Gold producer Polymetal International and gold producer Polyus were among outsiders, losing 3.69% and 2.85%, respectively.

Steelmaker Novolipetsk Steel (NLMK) dropped 1.76% after reporting that its net profit fell 24% on the year and 25% on the quarter to U.S. $382 million in January–March, as calculated under International Financial Reporting Standards (IFRS).

Steelmaker Severstal lost 1.27% on reports that its IFRS net profit fell 7.2% on the year to $428 million in January–March.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.11	235.67	13.419
Lukoil	+1.58	5780.00	4.711
Rosneft	+0.32	441.00	2.621
Gazprom	-0.66	162.42	2.463
Sberbank pref	+0.55	205.88	1.239

(63.7860 rubles – U.S. $1)

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