Russian stocks grow as concerns over US key rate fade

MOSCOW, Mar 17 (PRIME) -- The Russian stock market increased on Friday because investors no longer had to worry about a soon U.S. key rate rise, analysts said.

The MICEX grew 1.12% to 2,036.96 and the RTS increased 1.42% to 1,111.89.

“A tide of apprehension of a further U.S. monetary policy toughening has been left behind, market participants will begin to think about the next U.S. key rate raise only in May, which is why they have come back to the risk-on mode,” Raiffeisen Capital analyst Sofya Kirsanova said.

Finam analyst Bogdan Zvarich said that in general, the external background for the Russian stock market was neutral. The oil market situation consolidated with the Brent oil blend keeping the positions in the zone of U.S. $52 per barrel, and the European markets’ key indices slightly grew, which supported Russian stocks.

Otkritie Broker analyst Andrei Kochetkov said that Sberbank was demonstrating the biggest rebound among blue chips as a demonstration of a possible mood change on the Russian market.

The oil and gas sector was growing on the back of the oil price increase, he said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.77	161.15	10.530
Gazprom	+0.70	128.94	5.540
Lukoil	+1.13	3130	3.454
Rosneft	+0.16	314.45	2.553
ALROSA	+3.28	94.5	2.336

(58.2437 rubles – U.S. $1)

End