Russian stocks grow in line with global energy, stock markets

MOSCOW, Jan 20 (PRIME) -- The Russian stock market edged up on Wednesday following the dynamics of foreign stock exchanges and energy markets, analysts said.

The MOEX Russia Index grew 0.68% to 3,466.80 and the RTS increased 1.11% to 1,486.90.

“The MOEX Russia and the RTS indices remained in the positive territory, above the 3,460 and 1,460 support levels, respectively. However, the growth cannot be called confident, the market is at a short-term crossroad, and may return to downward correction,” Veles Broker analyst Yelena Kozhukhova said.

Optimism was seen on foreign stock markets and in the crude price dynamics on Wednesday, and the domestic market joined the trend. At the same time, sanctions risks still restrain growth of local shares, she added.

Otkritie Broker analyst Andrei Kochetkov said that the global positivity was linked to statements of future U.S. Secretary of the Treasury Janet Yellen who backs fast approval of U.S. $1.9 trillion support measures for the U.S. economy.

Children goods retailer Detsky Mir was among the best performers, it added 2.76% after publishing sound operating results for 2020.

Gold producers Polyus and Petropavlovsk Plc grew 1.68% and 1.64% , resperctively, thanks to a rise in gold prices.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.22	278.8	12.228
Gazprom	+0.55	224.37	11.040
Norilsk Nickel	+2.81	26.552	5.996
Lukoil	-0.47	5864.5	5.265
Polyus	+1.68	14937	3.400

(73.7243 rubles – U.S. $1)

End