Russian stocks grow on global optimism, oil price gains

MOSCOW, Sep 2 (PRIME) -- The Russian stock market closed higher on Thursday thanks to an encouraging foreign background, but rebounded from the day’s peaks by the end of the trading session, and the MOEX Russia Index can be ready to test the 4,000 mark soon, analysts said.

The MOEX Russia Index grew 0.5% to 3,990.77 and the RTS increased 0.67% to 1,726.61.

“The MOEX Russia and the RTS indices stayed in the positive territory at the end of the trading session, but bounced back from the day’s highs of 3,994 and 1,728… (because) optimism prevailed on the global stock market on Thursday,” Veles Broker analyst Yelena Kozhukhova said.

The three main U.S. benchmarks started the day around 0.5% higher, the European stock indices looked carefully optimistic, rising nearly 0.1%, and crude prices surged 2.5% thanks to the weakening U.S. dollar and news about the Ida hurricane in the Mexican Gulf, which can impact local oil production, she added.

Otkritie Broker analyst Andrei Kochetkov said that chemical and petrochemical shares were among the worst performers including Nizhnekamskneftekhim losing 5.61% and PhosAgro falling by 1.43%.

Kochetkov believes that the MOEX Russia Index is ready to test the 4,000 mark.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	+0.38	314.08	15.598
Sberbank	-1.49	329.6	9.596
Lukoil	+1.05	6400.5	6.740
Norilsk Nickel	-1.33	23906	5.552
Rosneft	+2.3	554	5.474

(73.1912 – U.S. $1)

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