Russian stocks grow on neutral environment, shares of metal firms

MOSCOW, Aug 8 (PRIME) -- Russian stocks grew on Tuesday amid a neutral external environment as shares of metals companies supported local floors, analysts said.

The MICEX rose 0.98% to 1,989.61 and the RTS increased 1.55% to 1,048.69.

“Russian stocks grew during the trading session of Tuesday following shares of metallurgic companies. Prices for aluminum soared to two-year highs sending RUSALs receipts soaring again,” Yevgenia Abramovich, head of the currency risk analysis department at Swiss brokerage house Dukascopy Bank SA, said.

Russian depositary receipts of aluminum giant UC RUSAL gained 6.67% to 400 rubles.

“The calm external background, relatively stable oil prices and a lack of negative news allowed participants of the trade to focus on cautious purchases,” Andrei Kochetkov, an analyst at Otkritie Broker, said.

The Brent oil price slid 0.21% to U.S. $52.26 per barrel as of 6.05 p.m. Moscow time, according to the ICE exchange.

Igor Kovalyov, an analyst at InstaForex, said that shares of multi-industry holding Sistema were among the loss leaders on the news that it has failed to delay hearing of a 170.6 billion ruble suit until appeals of third parties are studied and disqualify the judge. Sistema lost 1.72% to 11.40 rubles.

Below are the MICEX’ five most active stocks on Tuesday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.71	175.75	8.807
Gazprom	+0.14	119.67	1.783
Lukoil	+1.94	2974.00	1.654
Norilsk Nickel	-0.76	9200.00	1.552
ALROSA	+0.41	82.39	1.199

(60.0605 rubles – U.S. $1)

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