Russian stocks grow backed by weakening risk of U.S. sanctions

MOSCOW, Apr 9 (PRIME) -- The Russian stock market consolidated in the positive territory on Tuesday thanks to reducing sanctions risks, analysts said.

The MOEX Russia Index grew 0.40% to 2,570.28 and the RTS rose 0.66% to 1,248.38.

“The unexpected ‘fatigue’ of U.S. Congress from anti-Russian sanctions still supports the domestic stock market. (Top lender) Sberbank stock was the key indicator on an improved sentiment,” Otkritie Broker analyst Andrei Kochetkov said.

Sberbank added 2.45% to 238 rubles thanks to softening external risks and expectation of high dividend payments, he added.

Gas giant Gazprom rose 1.37% to 162.7 rubles on the news its Nord Stream-2 gas pipeline to Europe is 40% completed.

Oil companies demonstrated a decline as investors see oil futures as overbought, Kochetkov also said. Lukoil slid 1.54% to 5,736 rubles and Rosneft lost 1.19% to 415.9 rubles.

Power company Enel Russia dropped 1.28% to 516.8 rubles after Kommersant business daily had reported that Australian investment fund Macquarie plans to sell its entire 6.3% stake in the company until the end of 2019 in line with plans to leave the country altogether.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank, common	+2.45	238	27.785
Gazprom	+1.37	162.7	6.512
Lukoil	-1.54	5736	6.136
Sberbank, preferred	+2.03	205.7	1.917
Norilsk Nickel	+0.36	14400	1.888

(65.3498 rubles – U.S. $1)

End