Russian stocks grow following jump in oil, gas sector

MOSCOW, Oct 3 (PRIME) -- Russian stocks increased on Wednesday, with the MOEX Russia Index setting a new high of over 2,500, on the rise of the oil and gas sector and positive mood on foreign floors, analytics said.

The MOEX Russia Index rose 1.80% to 2,493.91 and the RTS grew 1.22% to 1,196.03.

“On Wednesday, the Moscow Exchange set a new high, having exceeded the level of 2,500 points. Early today, the market rushed upwards on the back of the U.S. floors rising overnight. The oil-and-gas segment was the principal growth driver: several blue chips added over 4% on the back of high oil prices,” investment company Veles Capital said.

Veles Broker’s analyst Yelena Kozhukhova attributed the rise of the indices and of the oil and gas sector to some statements of Russian President Vladimir Putin. He said that Russia can increase its oil production by 200,000–300,000 barrels daily if needed and that the Nord Stream-2 gas pipeline project will be completed.

Analyst at Freedom Finance Anastasia Sosnova said that the external background remained positive with Brent balancing within U.S. $85 per barrel, the U.S. floors rising at opening, and European exchanges rising 0.5% amid positive statements by Italy on plans to cut the budget’s deficit.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.6	198.3	15.327
Gazprom	+4.23	169.47	10.939
Lukoil	+2.79	5035	5.135
Rosneft	+4.19	512	3.094
Norilsk Nickel	+1.21	11365	1.919

(65.2221 rubles – U.S. $1)

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