Russian stocks grow amid positive dynamics on foreign floors

MOSCOW, Feb 25 (PRIME) -- Russian stocks increased on Monday amid positive dynamics on foreign floors, but their growth was curbed by oil prices switching to a decline in the middle of the day, analysts said.  

The MOEX Russia Index rose 0.24% to 2,494.63 and the RTS increased 0.26% to 1,201.57.

“The MOEX Russia Index and the RTS Index are finishing the day in a symbolic plus, departing from the session’s high. The ruble indicator could not hold above the psychologically important mark of 2,500 points, and the dollar one consolidated into the area of 1,200 points thanks to the strength of the ruble against the dollar,” Veles Capital analyst Yelena Kozhukhova said.

The Russian stock market was affected by correction of oil prices, which switched to a reduction in the middle of the day after U.S. President Donald Trump said that oil prices are getting “too high.”

The foreign background was moderately positive. Trading on the U.S. stock floors started with growth of three main indices, which were adding 0.5–0.7% as Russia’s trading closed, backed by Trump’s decision to delay introduction of new duties on Chinese goods, analysts said. Moderately positive moods were seen on European stock exchanges.

Fertilizer maker Uralkali was among growth leaders, with shares jumping 4.29% on reports that Rinsoco Trading Co. Limited, owned by businessman Dmitry Lobyak, filed a mandatory bid to the central bank asking for approval of acquisition of 13.2% in Uralkali.

Internet giant Yandex grew 3.83%.

Oil company Tatneft’s common shares and gold producer Polymetal were among outsiders, falling 1.6% and 1.54%, respectively.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.3	205.86	14.638
Norilsk Nickel	+3.34	14594.00	3.537
Lukoil	+0.11	5533.00	3.041
Gazprom	-0.03	154.60	2.290
Rosneft	-1.25	396.50	1.503

(65.5149 rubles – U.S. $1)

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