Russian stocks grow on statements from Eastern Economic Forum

MOSCOW, Sep 12 (PRIME) -- The Russian stock market grew on Wednesday on the back of rising blue chips on statements made during the Eastern Economic Forum in Vladivostok, analysts said.

The MOEX Russia Index grew 0.23% to 2,340.63 and the RTS index rose 1.46% to 1,071.32.

“The Russian market was on the positive territory due to securities of the largest issuers. Gazprom continued to reflect the information about a China–Russia agreement on a new gas supply route. Sberbank erased losses after a sell-off and also reflected rumors on significant investments in Russian securities by non-residents,” Otkritie Broker analyst Andrei Kochetkov said.

Analyst at Freedom Finance Anastasia Sosnova said that fears on foreign markets, concerning the U.S.–China trade conflict have faded.

Vitaly Manzhos, a senior risk manager at investment company Algo Capital, said that the RTS index rise was stronger than the MOEX Russia Index one due to strengthening of the ruble.

According to Kochetkov, Rosneft’s shares eased on statements by executives concerning a lack of opportunities for buyback.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+2.68	173.9	16.177
Gazprom	+1.77	155.05	5.283
Lukoil	-1.78	4622.5	2.747
Sberbank pref	+2.32	148.34	1.937
Rosneft	-0.87	444.9	1.733

(69.9744 rubles – U.S. $1)

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