Russian stocks grow on minerals' price increase, Magnit–Dixy deal

MOSCOW, May 18 (PRIME) -- The Russian stock market increased on Tuesday on the back of an oil price rise and was supported by solid corporate reports and the announcement of Magnit–Dixy merger, analysts said.

The MOEX Russia Index grew 1.33% to 3,687.96, and the RTS index increased 1.48% to 1,574.32.  

"A positive external background, including a growth of raw material goods prices, triggered a significant rise of Russian indices," Andrei Kochetkov, leading analyst for global research at Otkritie Broker, said.

The Brent price tried to reach the level of U.S. $70 but did not manage to consolidate. Still, the MOEX Russia Index reached 3,700.19, he said.

Dmitry Bedenkov, head of the research department of investment company Russ-Invest, said that Magnit was among the market leaders after announcing purchase of another retailer Dixy comprising 2,651 stores.

Gazprom Neft added 1.02% after reporting a net profit of 84.2 billion rubles in January–March after a net loss in the same period of 2020, and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) almost doubling. 

Kochetkov said that ALROSA rose 2.01% after posting an increase of EBITDA 12% on the year to 33.5 billion rubles in January–March.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	+0.82	257.23	13.137
Magnit	+1.64	5234	12.251
Lukoil	+0.67	6016	9.986
Sberbank	+0.34	304.96	9.218
VTB	-2.09	0.04696	5.993

(73.8537 – U.S. $1)

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