Russian stocks grow backed by stabilized oil, European floors

MOSCOW, Mar 13 (PRIME) -- Russian stocks increased on Monday supported by stabilized oil prices and growth on European floors, analysts said.

The MICEX rose 1.33% to 2,000.14 and the RTS increased 1.25% to 1,069.14.

“The improvement of the foreign background allowed the Russian stock market to demonstrate a correction growth today and win back part of last week’s losses. Growth on European floors, where main indices are gaining around 0.2% by the middle of the day, was the main reason for purchases,” Finam analyst Bogdan Zvarich said.  

“Stabilization of the energy market, where the Brent oil price stabilized above the level of U.S. $51 per barrel after attempts to fall below, was a positive factor as well,” he said.

Russian real estate developer PIK Group rose 2.76% after announcing plans to delist its global depositary receipts (GDRs) from the London Stock Exchange to consolidate trade in its shares on the Moscow Exchange, Otkritie Broker analyst Andrei Kochetkov said.

Fertilizer producer Uralkali increased 0.84% after reporting that its net profit soared to $1.427 billion in 2016 from $184 million in 2015, as calculated under International Financial Reporting Standards (IFRS).

Electronic goods retailer M.Video rose 1.02% on reports that the Federal Antimonopoly Service cleared investment holding Safmar to buy the company, Ilya Frolov, a senior capital market analyst at Promsvyazbank, said.

Truck maker Kamaz grew 0.7% after reporting a net profit of 1.2 billion rubles in 2016 against a net loss of 3.3 billion rubles in 2015, as calculated under the Russian Accounting Standards (RAS), and with its sales increasing 19% on the year to 3,440 units in January–February.

Titanium giant VSMPO-Avisma, whose RAS net profit soared around 80% on the year to 26.633 billion rubles in 2016, closed 2.66% higher.

Oil and gas pipe maker TMK grew 1.23% after posting a $166 million net profit in 2016 after a $368 million net loss in 2015, under IFRS.

Power producer Territorial Generating Company-1 (TGC-1) dropped 6.52% on reporting that its IFRS net profit decreased 8.6% to 5.324 billion rubles in 2016.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.9	158.92	5.408
Gazprom	+0.89	129.93	4.431
FGC UES	+1	0.1765	1.510
Lukoil	+0.76	3051.00	1.252
Rosneft	+1.03	318.25	1.251

(59.2174 rubles – U.S. $1)

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