Russian stocks grow backed by oil prices, domestic corporate news

MOSCOW, Mar 29 (PRIME) -- The Russian stock market stayed in the green territory by the end of the trading session on Monday thanks to strong crude prices and local corporate news, analysts said.

The MOEX Russia Index grew 1.13% to 3,529.33 and the RTS increased 1.26% to 1,468.14.

“The MOEX Russia and the RTS indices remained in the positive territory at the end of the trading session, but lost part of the day’s gains. The ruble-denominated benchmark consolidated above the 3,500 mark, which proves its good chances for further growth,” Veles Broker analyst Yelena Kozhukhova said.

The RTS index aimed at the resistance level of 1,470, she added.

The global market looked mixed, and high crude prices and local corporate stories supported domestic stocks, Kozhukhova also said.

Metals companies RUSAL and Norilsk Nickel were among the best performers adding 5.92% and 3.7% in light of the news of the second stage of recovery of the Oktyabrsky and the Taimyrsky mines. Norilsk Nickel also said that its managers suggested paying 50–75% of free cash flow in dividends.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Norilsk Nickel	+3.7	23028	27.608
Sberbank	+0.61	293	11.875
Gazprom	+0.64	228.75	5.008
Lukoil	-0.2	6270.5	4.832
Rosneft	-1.03	576.2	4.504

(75.7576 rubles – U.S. $1)

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