Russian stocks grow as oil climbs over $40/bbl, global floors rise

MOSCOW, Jun 16 (PRIME) -- Russian stocks increased on Tuesday supported by oil futures growing above U.S. $40 per barrel and positive moods on Western floors, analysts said.

The MOEX Russia Index rose 1.08% to 2,748.30 and the RTS grew 1.73% to 1,242.72.

“The MOEX Russia Index and the RTS Index remained in plus by the end of trading due to preservation of optimistic sentiments abroad, although they retreated from the highs,” Veles Capital analyst Yelena Kozhukhova said.

The foreign background was moderately positive. Trading in the U.S. started with growth of three main indices, which retreated from the day’s highs by the end of the Russian session, but were still adding 1.6–1.9%. Positive moods were seen on European floors as well.

Brent and WTI oil futures were adding around 1–1.5% by the end of the Russian session, as the International Energy Agency improved its forecast for a decrease in global oil demand in 2020 to 8.1 million barrels per day from 8.6 million barrels per day.

Novorossiysk Commercial Sea Port (NCSP) was among growth leaders, with shares jumping 21.29% after the company’s board of directors recommended paying 26.001 billion rubles in final dividends for 2019.

Hydropower giant RusHydro rose 5.63% and multi-industry holding Sistema grew 2.83%.

Magnitogorsk Iron and Steel Works (MMK), fertilizer producer Acron, and gold producer Polyus were among outsiders, losing 1.55%, 2.15%, and 1.66%, respectively.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.21	207.76	13.981
Norilsk Nickel	+2.17	19472.00	8.704
Lukoil	+2.43	5392.00	8.668
Gazprom	+1.23	196.59	8.582
Rosneft	+1.43	371.40	3.439

(70.3950 rubles – U.S. $1)

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