Russian stocks grow on global optimism over German recovery

MOSCOW, Apr 16 (PRIME) -- The Russian stock market increased on Thursday on the back of worldwide optimism over Germany's plans to restart the economy amid the COVID-19, which was not completely killed by a gloomy OPEC report, analysts said.

The MOEX Russia Index grew 0.64% to 2,515.05, and the RTS Index increased 1.91% to 1,066.91.

"The indices of the Moscow Exchange and the RTS remained in the green zone by the end of the trade but fell from daily highs as optimism on the foreign floors faded," Veles Broker analyst Yelena Kozhukhova said.

Otkritie Broker analyst Andrei Kochetkov said that the global markets, including Russia, rose during the day after Germany announced plans to cut the social distancing measures gradually to boost the economy. 

The news also made oil rebound to U.S. $29 per barrel, he said.

Kozhukhova said that in the evening, after publication of the OPEC monthly report, oil quotations started to fall. OPEC forecasted a record 6.8 million barrel per day decline of global oil demand in 2020.  "All what is left to investors is to wait until May when oil producing countries must start to cut output and the peak of coronavirus might be left behind in the largest economies," she said.

Kochetkov said that gold companies, including Polyus and Polymetal, were among the gain leaders with 4.07% and 0.24% rise respectively as gold continued to rise on the back of large-scale investment.

X5 Retail Group also rose by 4.38% on the London Stock Exchange on a report of higher January–March revenue thanks to the increase of online sales to self-isolated people, he said.

Aeroflot added 1.83% on the news about state support to airlines, Kochetkov said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.31	188.5	20.595
Lukoil	+1.73	4561.5	15.459
Gazprom	+0.03	184.3	10.506
Norilsk Nickel	-0.64	19520	6.861
Rosneft	-0.49	305.75	6.650

(73.7145 – U.S. $1)

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