Russian stocks grow on oil price, European stocks rise

MOSCOW, Dec 15 (PRIME) -- Russian stocks rebounded on Tuesday supported by strengthening of the Brent price and rising European trading floors, analysts said.

The MICEX rose 1.98% to 1,742.46 and the RTS increased 2.97% to 783.65.

“As soon as oil withstood temptation to fall to new 10-year lows and won back a few dollars, it was enough for a significant rebound of the market,” Andrei Kochetkov, an analyst at Otkritie Broker, said.

The rise of the dollar-denominated RTS was also sped up by the ruble firming.

“The Russian market has rebounded after several days of decline. The increase was secured by a positive mood on European stock markets and the recovery of oil,” Igor Kovalyov, an analyst at InstaForex, said.

International rating agency Standard & Poor’s estimate that banks’ losses are likely to stand at 50-70 billion rubles in 2015 against a 220 billion ruble net profit in 2014, capped a price rise in banking stocks, Kochetkov analyst said.

Hydropower giant RusHydro rose 3.68% after a publication of strong financial results under International Financial Reporting Standards (IFRS).

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+2.35	100.00	8.741
Gazprom	+2.14	134.40	4.204
Lukoil	+0.58	2446.80	2.579
Norilsk Nickel	+2.11	8965.00	2.560
Magnit	+2.81	11340.00	1.869

(70.2244 rubles – U.S. $1)

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