Russian stocks edge up backed by rising oil, global exchanges

MOSCOW, Oct 16 (PRIME) -- The Russian stock market edged up on Tuesday thanks to global optimism backed by strong corporate reports of Western companies and rebounding crude, analysts said.

The MOEX Russia Index grew 1.18% to 2,417.26 and the RTS rose 1.67% to 1,165.87.

“The MOEX Russia Index and the RTS rose at the end of the trade session on Tuesday following the enhancing sentiment of the global market… the short-term outlook is improving for bulls, but the growth still looks unreliable,” Veles Broker analyst Yelena Kozhukhova said.

The major U.S. and European benchmarks surged on sound corporate financial statements for July–October, she added.

Veles Capital said that the domestic stock market was considerably influenced by crude prices falling in the first half of the session with the Brent oil price seen at around U.S. $80 per barrel, and reversing upwards later in the day.

Precious metals producers Polyus and Polymetal International were among the top gainers adding 2.66% to 4,316 rubles and 4.72% to 616.8 rubles, respectively.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+2.69	196.05	12.323
Gazprom	_+1.21	165.99	3.157
Lukoil	+1.01	4795	2.230
Magnit	-0.56	3540	1.945
ALROSA	+2.55	100	1.583

(65.7508 rubles – U.S. $1)

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