Russian stocks edge up due to oil rebound, positive environment

MOSCOW, Feb 12 (PRIME) -- The Russian stock market closed higher on Monday supported by a favorable global environment, analysts said.

The MOEX Russia Index grew 1.05% to 2,220.12 and the RTS rose 1.72% to 1,206.22.

“The local market moved higher backed by an external background improvement… However, it is premature to say that (the MOEX Russia Index and the RTS) have reversed upwards (following a dramatic fall last week),” Vitaly Manzhos, senior risk manager at investment company Nord Capital, said.

Otkritie Broker analyst Andrei Kochetkov agreed that the Russian market was mainly guided by the global background due to the lack of news.

Crude prices bounced back from a U.S. $62 per barrel mark and consolidated higher supporting domestic energy companies. Gas giant Gazprom rose 1.28% to 137.3 rubles, Rosneft grew 0.23% to 325.3 rubles and Lukoil soared 1.08% to 3,656.5 rubles.

Multi-industry holding Sistema added 7.61% to 12.65 rubles on a recent statement of core owner Vladimir Yevtushenkov that it has no plans to reject dividends for 2017 because of payments owed under an amicable agreement with Rosneft on a Bashneft case, Manzhos said.

He also said that truck maker Kamaz outperformed the market surging 2.88% to 51.85 ruble on sound operating and financial reports for 2017.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.98%	255.05	10.645
Gazprom	+1.28%	137.3	4.036
Lukoil	+1.08%	3656.5	2.729
Rosneft	+0.23%	325.3	2.105
Norilsk Nickel	+0.41%	11147	1.497

(58.1718 rubles – U.S. $1)

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