Russian stocks grow following US stock exchanges

MOSCOW, Apr 8 (PRIME) -- The Russian stock market decreased in the first half of the day on Wednesday in light of uncertainty on the crude market, but managed to grow later following the optimistic dynamics of the U.S. bourses, analysts said.

The MOEX Russia Index grew 1.34% to 2,670.12 and the RTS rose 1.35% to 1,114.60.

“The MOEX Russia Index and the RTS reversed from the day’s lows and… tried to consolidate above the 2,610 and the 1,100 support lines… The U.S. stock exchanges demonstrated optimism and the crude market was uncertain ahead of the output talks,” Veles Broker analyst Yelena Kozhukhova said.

The Russian Energy Ministry said earlier that it would participate in the meeting of the OPEC+ states on Thursday where the alliance plans to discuss a possible reduction in oil production.

Freedom Finance analyst Valery Yemelyanov said that stocks of oil and gas pipe maker TMK showed powerful dynamics jumping over 20% on the plans to buy back shares at 61 rubles apiece and then delist from the London Stock Exchange.

Power company Mosenergo and aluminum producer RUSAL were among the losers falling by 2.02% and 1.15%, respectively.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.35	200.29	17.787
Lukoil	+0.43	5140	9.838
Gazprom	+1.51	194.11	9.412
Norilsk Nickel	+1.94	20164	5.943
Rosneft	+0.59	341.5	4.761

(75.4550 rubles – U.S. $1)

End