Russian stocks grow on positive foreign environment, local stories

MOSCOW, Nov 21 (PRIME) -- The Russian stock market demonstrated positive dynamics on Tuesday in light of an encouraging foreign background and local corporate news, analysts said.

The MOEX Russia Index grew 0.35% to 3,218.48 and the RTS increased 1.04% to 1,154.39.

“The MOEX Russia Index was trading within a narrow range above the 3,200 mark. The index’s growth was restrained by the strengthening ruble and high yield of alternative conservative assets. The RTS continued increasing to the year’s new high of over 1,150,” Andrei Alexeyev, managing company Pervaya’s portfolio manager, said.

Alexeyev also said that there was a rally on the U.S. market with the S&P500 index approaching the year’s highest after the government had published lower inflation figures. The Brent oil price was trading around $81.5 per barrel.

Alexei Golovinov, chief analyst at PSB Bank, said that the MOEX Russia Index reached the week’s highest after mixed dynamics and strong growth of some stocks.

Crude producers Tatneft, Bashneft and Surgutneftegas rose significantly after Tatneft board of directors’ recommendation to pay 35.17 rubles per ordinary and preferred share in dividends for July–September, Golovinov said.

Gold producers including Polymetal International demonstrated positive movement thanks to the gold price growing to above U.S. $2,000 per ounce.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Mechel	+3.96	327.5	14.226
Sberbank	+0.1	283.18	4.934
Mechel prefs	+2.6	372.6	4.623
Lukoil	+0.08	7200	3.070
Tatneft	+2.86	633	2.951

(88.4954 rubles – U.S. $1)

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