Russian stocks edge up supported by favorable background

MOSCOW, Aug 3 (PRIME) -- Russian stocks grew slightly on Friday supported by a favorable external background, but the growth was limited as investors were waiting for more news about U.S. sanctions against the country, analysts said.

The MOEX Russia Index rose 0.12% to 2,297.99 and the RTS increased 0.36% to 1,145.08.

“The external background of the world’s largest markets was positive late in the evening. In particular, the key U.S. index S&P500 gained 0.23%, while Europe’s STOXX600 grew 0.52%,” Timur Nigmatullin, an analyst at Otkritie Broker, said.

“It looked like investors have hunkered down waiting for new discussions of anti-Russian measures by the U.S. senators. It is obvious that it would be tough for them to push the bill through the congress, but the U.S. administration has pulled out many tough things over the past year, so no one should write off these risks,” Anna Bodrova, an analyst at Alpari, said.

Andrei Kochetkov, an analyst at Otkritie Broker, said that risks of a full-scale ban on investment in Russian assets are very low, and the possible measures have little impact on the national market. “Still, foreigners are very sensitive toward such probabilities,” he said.

Vasily Oleinik, an analyst at investment company Finam, said that the European bourses edged up trying to reclaim some ground after Thursday’s losses, and trade in U.S. stocks was very optimistic, but the Asian floors closed in the red. “In spite of all the positive mood, the trade war still exists, and the U.S. may impose new duties and rapidly cool down all investors,” Oleinik said.

Kochetkov said that shares of top bank Sberbank and oil major Rosneft fell 2.12% and 1.33%, respectively, as they are the most probable candidates for the new U.S. sanctions.

Ivan Marchena, an analyst at Forex Club group of companies, said that weak financial performance of gold producer Polyus pushed the shares down 1.87%. Its net profit shrank 38.1% on the year in January–June, as calculated under International Financial Reporting Standards (IFRS).

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-2.12	202.21	15.078
Gazprom	+1.45	142.39	3.094
Lukoil	-0.04	4499.50	2.158
Magnit	+0.62	4205.00	1.561
Norilsk Nickel	+1.07	10814.00	1.178

(63.1358 rubles – U.S. $1)

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