Russian stocks edge up as oil prices, global risk appetite grow

MOSCOW, Oct 7 (PRIME) -- The Russian stock market edged up on Monday supported by strong crude prices, a weak ruble and a growing global risk appetite, analysts said.

The MOEX Russia Index grew 0.99% to 2,719.22 and the RTS rose 0.66% to 1,320.25.

“The MOEX Russia Index and the RTS remained in the positive territory at the end of the trading session backed by the foreign environment,” Veles Broker analyst Yelena Kozhukhova said.

European stock exchanges looked optimistic, and growth of crude prices accelerated in the evening, up 2% ahead on the upcoming trade negotiations between the U.S. and China and an improving risk appetite, she added.

Oil companies Tatneft and Surgutneftegas were among the best performers, Kozhukhova also said, the stocks added 1.47% to 691.5 rubles and 2.20% to 36 rubles, respectively.

Otkritie Broker analyst Andrei Kochetkov said that a weak ruble supported the domestic market along with crude prices pushing the largest exporters including gas giant Gazprom, oil major Rosneft and metals company Norilsk Nickel upwards.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+2.15	227.55	9.055
Gazprom	+2.12	226.36	5.028
Norilsk Nickel	+0.97	16048	2.550
Lukoil	+0.6	5367	2.254
Rosneft	+0.84	418.5	1.441

(65.0300 rubles – U.S. $1)

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