Russian stocks grow backed by global floors, corporate news

MOSCOW, Aug 29 (PRIME) -- Russian stocks increased on Thursday backed by positive dynamics on global floors, corporate news, and rising oil prices, analysts said.

The MOEX Russia Index added 1.38% to 2,714.25 and the RTS Index increased 1.44% to 1,284.94.

“The MOEX Russia Index and the RTS Index remained in a steady plus by the end of trading on Thursday due to an improved foreign background and thanks to corporate news,” Veles Capital analyst Yelena Kozhukhova said.

Trading on the U.S. stock floors opened with an increase of three main indices, which were adding around 1.1–1.4% by the end of trading in Russia. Trading in Europe was on an optimistic note. Oil prices tried to remain in plus by the evening and were gaining around 0.5–1%.

Power producer Wholesale Generating Company-2 (WGC-2) and real estate developer LSR Group were among growth leaders, adding 4.5% and 3.25%, respectively, Kozhukhova said.

Gold producer Polymetal and power producer Territorial Generating Compamy-1 (TGC-1) were among outsiders, losing 0.84% and 1.15%, respectively.

Gas giant Gazprom added 2.07% after reporting that its net profit rose 32.4% to 878.644 billion rubles in January–June, as calculated under International Financial Reporting Standards (IFRS.

Hydropower giant RusHydro lost 0.28% on reports that its IFRS net profit fell 23.8% on the year to 29.39 billion rubles in January–June.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	+2.07	233.20	11.083
Lukoil	+3.10	5356.00	10.152
Sberbank	+1.47	221.50	7.907
Norilsk Nickel	+0.83	15558.00	2.942
Rosneft	+0.36	406.25	1.351

(66.4127 rubles – U.S. $1)

End