Russian stocks grow as foreign markets recover near session end

MOSCOW, Nov 30 (PRIME) -- The Russian stock market edged up on Tuesday in volatile trade as the foreign markets started recovering, analysts said.

The MOEX Russia Index grew by 0.28% to 3,890.59, and the RTS index increased by 0.43% to 1,645.81.

"The MOEX Russia Index and RTS tried to rise at the end of the trade as foreign assets recovered from local minimums, but they did not look confident," Yury Kravchenko of Veles Capital said.

"After quite a positive start of the week, the sellers returned to the Russian market. An attempt to go above 3,900 of the MOEX Russia Index failed, and the ruble indicator fell below the opening mark in the middle of the day," Andrei Kochetkov of Otkritie Research, said.

"The oil price is falling on the U.S. promises to sell even more oil from the strategic reserves, besides, the new COVID-19 Omicron strain spread is accompanied with reduction of flights. Anyway, it is unlikely that the market will return to stable growth soon," he said.

Dmitry Babin, stock market expert at BCS World of Investment, said that after opening lower the Russian market recovered in line with the oil quotations, but oil and the stock markets resumed their fall pressuring the Russian stocks.

Kochetkov said that the transport and energy sectors were the loss leaders. Metals and mining increased slightly as the gold companies compensated a decline of the ferrous metals prices. VSMPO-Avisma fell on the aircraft industry problems.

Construction companies were under the pressure after Central Bank Chairwoman Elvira Nabiullina said that prolongation of a 7% mortgage program is undesirable, he said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	-0.32	338.12	37.134
Sberbank	+0.63	318.58	28.107
RUSAL	-3.69	69.15	22.771
Lukoil	-0.38	6.591	16.285
Yandex	-0.31	5.390	7.832

(74.9818 – U.S. $1)                                                                        

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