Russian stocks grow in line with oil, ruble, European floors

MOSCOW, Oct 3 (PRIME) -- Russian stocks increased on Monday supported by growing oil prices, positive dynamics on European floors, and the strengthened ruble, analysts said.

The MICEX rose 0.44% to 1,986.80 and the RTS increased 1.39% to 1,004.69.

“Russian stock assets demonstrated positive dynamics today. This was encouraged by consolidation on the energy market, where Brent oil price is trading around U.S. $50.5 per barrel. Dynamics on European floors, where France’s CAC40 is losing token 0.03% and Germany’s DAX is gaining 1%, also contribute to demand for our securities,” Finam analyst Bogdan Zvarich said.

Vitaly Manshoz, a senior analyst at Bank Obrazovanie, said that “the dollar-denominated RTS index has demonstrated outrunning growth supported by significant appreciation of the ruble against the U.S. dollar.”

Oil company Bashneft was among growth leaders rising by 4.67% on reports that the government could sell a controlling stake in the company to oil major Rosneft without an auction for 325 billion rubles, analysts said.

Zvarich from Finam believes that Rosneft will likely acquire a stake in Bashneft, which is positively perceived by investors.

Oil and gas company Surgutneftegas lost 2.44%, as investors were disappointed by the company’s board of directors making no changes to the dividend policy, Manzhos said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+2.43	148.87	7.090
Gazprom	+0.35	135.37	2.662
Bashneft	+4.67	3269.00	1.840
Rosneft	+0.93	346.00	1.267
Lukoil	+0.23	3075.00	1.002

(63.3960 rubles – U.S. $1)

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