Russian stocks edge up on positive external background

MOSCOW, Jun 8 (PRIME) – The Russian stocks grew slightly on Monday supported by the favorable external background, analysts said.

The MOEX Russia Index rose 0.13% to 2,796.30 and the RTS increased 0.23% to 1,288.71.

“The Russian stock indices priced in the optimistic mood of foreign bourses,” Yelena Kozhukhova, analyst at Veles Capital, said.

The European bourses corrected downwards after robust performance of the previous week, but the mood of U.S. investors was positive on last Friday’s news of an unexpected increase of employment in the U.S. in May, Kozhukhova said.

“The global markets continued to react to the main events of Friday and Saturday, including  employment growth in the U.S. and a decision of OPEC+ to keep the deal for until at least the end of July. The general positive background was also supported by May Chinese exports data and by statistics from Japan, where the gross domestic product fell within the forecasted range in the first quarter,” Valery Yemelyanov, analyst at investment company Freedom Finance, said.

Andrei Kochetkov, senior analyst at Otkritie Broker, said that the market players experienced uncertainty because the European indices were weak.

“Investors are not concerned about the COVID-19 expansion, but about protests against racism,” Kochetkov said.

Kochetkov also said that national flagship carrier Aeroflot was the gain leader rising by 6.57% to 95.70 rubles on the news that Russia will restart scheduled flights to and from the countries of the Eurasian Economic Union and the Commonwealth of Independent States on July 15.

Preferred shares of oil company Surgutneftegas were among the loss leaders falling by 1.30% to 34.145 rubles due to the recent strengthening of the ruble, he said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.55	220.30	19.572
Norilsk Nickel	+0.50	20502.00	10.255
Lukoil	-1.61	5372.00	8.473
Gazprom	+0.92	204.91	8.235
Aeroflot	+6.57	95.70	6.940

(68.6319 rubles – U.S. $1)

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