Russian stocks grow on interest to risky assets, dividend hopes

MOSCOW, Jan 22 (PRIME) -- The Russian stock market increased on Monday as a dip in oil prices and a shutdown of the U.S. government have failed to reduce investors interest to risky assets and hopes of high dividends, analysts said.

The MOEX Russia Index firmed 0.97% to 2,308.61, and the RTS rose 1.13% to 1,285.33.

“The Russian indices resumed growth on Monday. The MOEX Russia Index has not reset a record but it tried to consolidate above 2,300,” Forex Club analyst Irina Rogova said. “It is supported by everyone’s interest to risky assets.”

Otkritie Broker analyst Andrei Kochetkov said that the Russian power sector propelled the market higher as the industry covered the gap with the rest of the stocks having lagged behind earlier in 2018. Investors are waiting for a high dividend yield as Rosseti can adopt a new dividend policy. Rosseti grew 4.15%.

Investment company Finam analyst Vasily Oleinik said that global markets have shrugged off a shutdown of the U.S. government, which has continued since January 20. “Whereas the reaction on financial markets in 2013 was significant, today this fact scares nobody at all,” he said.

Rogova said that dividend expectations of investors also favored growth of Russian assets.

Brent receded to U.S. $68 per barrel but remained in a range forecast by market participants, Rogova said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.64	243.99	6.103
Gazprom	+0.78	150.3	3.410
Lukoil	+1.16	3870	2.354
ALROSA	+1.20	84	2.342
Magnit	+0.62	6279	1.818

(56.5892 rubles – U.S. $1)

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