Russian stocks grow on oil price rise, absence of new sanctions

MOSCOW, Oct 27 (PRIME) -- The Russian stock market increased on Thursday on rising oil price, while the absence of new sanctions allowed the trend to be retained, analysts said.

The MOEX Russia Index grew by 2.08% to 2,164.64, and the RTS index increased by 1.57% to 1,105.71.

"The (MOEX Russia) Index is growing due to the lack of significant deterioration of the geopolitical background. The oil price growth is also affecting the mood positively: the nearest Brent futures exceeded the U.S. $94 per barrel level," Finam analyst Anna Builakova said.

The prices were affected by the news that the U.S. could raise the cap for the price of Russian oil from the earlier proposed $60 per barrel because of India and China's refusal to stick to the measure. Russian oil firms were supported by the reports, Builakova said.

Veles Capital analyst Yelena Kozhukhova said that receipt of Gazprom's dividends on the brokerage accounts continues to boost share prices in Russia, while the foreign markets were wary ahead of publication of the European Central Bank meeting statements and U.S. statistics reports.

Steel producers were the leaders of the local market on strong operating reports earlier in October, she said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+2.2	127.17	10.436
Gazprom	+0.63	173.06	3.651
Lukoil	+2.88	4746.5	3.412
Rosneft	+1.26	344.95	2.725
Norilsk Nickel	+0.82	13244	1.887

(61.4277 rubles – U.S. $1)

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