Russian stocks grow on news about US sanctions postponement

MOSCOW, Sep 27 (PRIME) -- The Russian stock market increased on Thursday on information that the U.S. is unlikely to slap new sanctions on Russia in the near future, and as oil prices rose, analysts said.

The MOEX Russia Index grew 1.95% to 2,474.57 and the RTS index increased 2.33% to 1,187.88.

“The Russian stock market and the ruble reacted to news about postponement of new U.S. sanctions against Russia with an active growth. As it became known on Thursday, the U.S. Congress will barely approve any new sanctions against Russia until the November elections,” Forex Club analyst Ivan Marchena said.

Daniil Yegorov, head of the trade strategies department at Swiss brokerage house Dukascopy Bank S.A., said that growing shares of oil and gas companies triggered increase of the entire Russian market.

Otkritie Broker’s senior analyst Andrei Kochetkov said that Novatek increased 3.66% as investor expect strengthening of the Russia–China relations and increase in sales of liquefied natural gas (LNG) to China as its relations with the U.S. continue to deteriorate.

Sberbank grew on hopes for return of the Russian capital and inflow of money from territories with troubled relations with the U.S., Kochetkov said.

Acron increased 0.58% as the board of directors recommended paying 40 rubles per share in dividends from undistributed net profit, the analyst said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+4.24	204.1	20.286
Gazprom	+1.59	161.8	6.656
Magnit	-3.81	3840	6.021
Lukoil	+2.56	4952	5.541
Norilsk Nickel	-0.47	11830	3.849

(65.7585 rubles – U.S. $1)

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