Russian stocks grow on external optimism despite recent sanctions

MOSCOW, Apr 16 (PRIME) -- The Russian stock market continued to grow on Friday, ignoring the sanctions, earlier slapped by the U.S. against Russia, thanks to the support of general optimism on external markets, analysts said.

The MOEX Russia Index grew 0.84% to 3,598.44 and the RTS increased 1.51% to 1,497.05.

“The MOEX Russia and the RTS indices stayed in the green territory by the end of the trading session, hitting the highest levels from the second half of March of 3,597 and 1,496. From the technical point of view, the indicators have no hindrances for further growth… but a difficult geopolitical environment may correct the dynamics,” Veles Broker analyst Yelena Kozhukhova said.

The sentiment on foreign bourses was uncertain, but optimist still prevails on the markets. News on additional sanctions against Russia may come in the next few days, but now the domestic benchmarks look relatively stable to the geopolitical negativity, she added.

Coal producer Raspadskaya jumped 15.93% on the news U.K.-based mining giant Evraz, which operates mainly in Russia, had approved further consideration of spinoff of coal assets.

Steel producer Severstal added 4.97% after publishing strong financial results for January–March with doubling of the EBITDA.

Integrated steel producer Magnitogorsk Iron and Steel Works (MMK) and steelmaker Novolipetsk Steel (NLMK) rose 4.56% and 4.25%, respectively, thanks to general positivity in the ferrous metals sector.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.87	289.03	17.481
Gazprom	+0.17	235.02	10.474
Norilsk Nickel	+1.55	25500	8.226
Lukoil	+0.13	6062.5	4.438
Severstal	+4.97	1751.6	3.991

(76.9808 rubles – U.S. $1)

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