Russian stocks edge up backed by stronger oil, ruble

Moscow, Feb 14 (PRIME) -- The Russian stock market consolidated during the day on Wednesday pressured by a negative external sentiment, but closed higher following a jump in crude prices, analysts said.

The MOEX Russia Index grew 0.33% to 2,257.95 and the RTS rose 1.46% to 1,244.85.

“The U.S. dollar-based RTS index traded confidently in the green territory, whereas the ruble-denominated MOEX Russia Index edged down following an attempt of growth that had failed in the morning. Generally, we can see driverless consolidation on the local market,” Vitaly Manzhos, senior risk manager at investment company Nord Capital, said.

Raiffeisen Capital analyst Sofya Kirsanova said that all risky assets, including Russian stocks, were supported by a favorable external environment at the beginning of the session, but the dynamics on the global stock exchanges reversed after the U.S. inflation statistics was released.

Senior analyst at Freedom Finance Bogdan Zvarich said that the Brent oil price rocketed to over $63 from $62 before the Russian market’s close after the release of the U.S. fuel stocks statistics by the Department of Energy and drove the local benchmarks up.

A strengthening ruble backed domestically-oriented companies, Kirsanova said. Top bank Sberbank added 1.44% to 262.03 rubles and grocery retailer Dixy soared 1.01% to 331.1 rubles.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.44%	262.03	15.764
Gazprom	-0.69%	138.89	4.734
Norilsk Nickel	+2.27%	11761	3.069
Lukoil	-0.55%	3709	2.528
Magnit	-0.82%	4820	2.377

(57.7701 rubles – U.S. $1)

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