Russian stocks edge up as oil price keeps on growing

MOSCOW, May 14 (PRIME) -- The Russian stock market consolidated during the day to close slightly higher on Monday thanks to crude futures hitting a $78 per barrel mark unseen since November 2014, analysts said.

The MOEX Russia Index grew 0.53% to 2,357.62 and the RTS rose 0.72% to 1,202.56.

“Oil stayed expensive, but the external background was slightly negative. Russian investors have no clear signals to buy following a significant growth last week,” Otkritie Broker analyst Andrei Kochetkov said.

The market was strongly supported by oil prices in the second half of the session. The Brent crude futures broke through a $78 per barrel mark first since November 26, 2014 after OPEC reported a 163% fulfillment of an oil production cut deal in April.

Power producer Territorial Generating Company-1 (TGC-1) was among the best performers adding 3.01% to 0.011305 rubles thanks to a sound IFRS financial report demonstrating a 43% rise in the net profit in January–March.

National flagship air carrier Aeroflot lost 0.98% to 136.15 rubles amid previously reported problems with obtaining U.S. visas for its flight crews.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.88%	237.8	8.203
Gazprom	+0.19%	150.98	4.187
Lukoil	+0.56%	4407.5	3.549
Aeroflot	-0.98%	136.15	1.334
Norilsk Nickel	+0.46%	10778	1.257

(61.7354 rubles – U.S. $1)

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