Russian stocks grow after European floors, on higher oil, ruble

MOSCOW, Sep 19 (PRIME) -- Russian stocks rose on Monday amid higher oil prices, strengthening of the ruble and growth of European floors, analysts said.

The MICEX rose 0.25% to 1,986.97 and the RTS increased 0.87% to 969.75.

The trading session started with solid growth “amid increased oil prices and positive sentiment to Russian assets, which resulted from a September 16 decision of international rating agency S&P to improve the outlook on the country’s ratings to stable from negative,” Ilya Frolov, a senior capital markets and industries research and analysis manager at Promsvyazbank, said.

The S&P’s decision also pushed the Russian ruble up during the session.

According to Finam analyst Bogdan Zvarich, in the second half of the day, the Russian stock market demonstrated a moderate rise as oil prices continued an upward trend with Brent trading above U.S. $46 per barrel, and European stock floors restored after a September 16 decline and showed a 0.8–1.2% increase.

Frolov added that trading activity during the day was low and the MICEX mostly drifted in a range of the 1,985–1,990 points.

Coal producers showed significant growth during the session thanks to a sharp increase in prices for raw materials, Frolov said. Coal producers Raspadskaya and Belon jumped 8.02% and 6.03%, respectively, and mining and metals group Mechel rose 6.27%.

Aeroflot increased 3.20% on expectations of improvement in operating results and prospects of dividend payments for 2016, Frolov said.

Below are the MICEX’ five most active stocks on Monday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.13	148.66	5.809
Gazprom	+0.09	136.59	2.305
Surgutneftegas prefs	-1.97	28.84	1.827
Lukoil	-0.33	3018.00	1.821
Norilsk Nickel	+0.37	9505.00	1.203

(64.9940 rubles – U.S. $1)

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