Russian stocks edge up, ruble bounces back on cbank’s optimism

MOSCOW, Jul 6 (PRIME) -- The Russian stock market opened mixed on Thursday, but the dynamics changed to moderate optimism thanks to encouraging statements of officials at the central bank’s financial forum, as well as the ruble bounced back from nearly 100 rubles per U.S. dollar and managed to strengthen, analysts said.

The MOEX Russia Index grew 0.52% to 2,819.6 and the RTS increased 0.17% to 970.93.

“Mixed dynamics on the Russian stock market gave way to moderately positive dynamics, and the (local indices) edged up by the end of the main trading session on Thursday,” Freedom Finance Global’s Senior Analyst Natalya Milchakova said.

The U.S. dollar-denominated RTS index was pressured by active weakening of the ruble at the beginning of the day, but the trend reversed later in light of optimistic statements of representatives of the central bank, she also said.

Milchakova said that independent gas producer Novatek was among the day’s leaders thanks to the ruble rate dynamics and gas prices growth seen in Europe.

Oil company Bashneft sagged by over 15% as it was trading ex-dividend.

The Brent oil price fell by 0.9% to around $75.9 per barrel amid mounting wariness about slowing down of China’s economy, and gold decreased by 0.65% to $1,915 per troy ounce, Milchakova also said.

Director of the stock market department at managing company Pervaya Anton Kravchenko said that downward correction was seen on the U.S. stock exchanges with the S&P500 index losing more than 0.5% at the opening.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Lukoil	+0.32	5315.5	7.177
Sberbank	+0.1	241.19	5.098
Norilsk Nickel	+1.12	15034	3.741
Surgutneftegas, prefs	-0.5	41.575	2.716
Bashneft	-15.31	1317	2.665

(90.3380 rubles – U.S. $1)

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