Russian stocks edge up on weakened sanctions agenda

MOSCOW, May 5 (PRIME) -- The Russian stock market advanced on Thursday as the sanctions agenda has slightly weakened, analysts said.

The MOEX Russia Index grew 1.33% to 2,404.80 and the RTS increased 0.52% to 1,119.92.

“The financial sector, which had previously eased, and the shares of metallurgical companies were recovering on Thursday. Investors are still focused on the sanctions agenda, but it is not so acute right now, as the E.U. is known to finish its work on the sixth package of anti-Russian sanctions by May 9,” Senior Trader at managing company Alfa-Capital Vladislav Silayev said.

Freedom Finance analysts said that Russian stocks were trading in the positive territory thanks to the support of corporate news, despite correction on the U.S. market.

Veles Broker analyst Yelena Kozhukhova said that Novorossiysk Commercial Sea Port (NCSP), common shares of metals and mining group Mechel and Beluga Group, one of Russia’s leading producers of alcohol, were among the best gainers rising by 3.5–5% without any evident fundamental reasons.

Shipping company Sovcomflot (SCF) and preferred shares of Mechel underperformed most of all, she added.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.3%	124.8	5.267
Gazprom	+1.9%	238.6	3.522
Lukoil	+2.7%	4,675	1.071
Polyus	+0.87%	13615	711
TCS Group	+2.12%	2453	640

(69.4160 rubles – U.S. $1)

End