Russian stocks grow on strong oil prices, sound corporate reports

MOSCOW, Aug 25 (PRIME) -- The Russian stock market closed higher on Friday, again supported by strong crude prices and upbeat corporate reports, analysts said.

The MICEX went up 0.29% to 1,979.14 and the RTS soared 1.00% to 1,060.49.

“The MICEX was trading in a narrow band between 1,976 and 1,980 following a 0.2% gap up… Investors were waiting for an annual world’s central banks meeting in Jackson Hole, where heads of the Federal Reserve System and the European Central Bank were to speak,” Raiffeisen Capital analyst Sofya Kirsanova said.

She also said that the market was supported by positive crude price dynamics with Brent consolidating above a $52.2 mark amid a temporary shutdown of some of U.S. oil producing and refining facilities on the Mexican Gulf coast because of approaching hurricane Harvey.

Otkritie Broker analyst Andrei Kochetkov said that there were no strong ideas on the market except for corporate reports.

Coal producer Raspadskaya was among the gain leaders surging 3.45% to 86.98 rubles following the release of a sound January-June IFRS report demonstrating that its net profit tripled on the year.

Oil company Tatneft added 0.6% to 385.5 rubles on the news its net profit rose 27% in January-June.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.39%	180.5	12.441
Norilsk Nickel	-0.76%	9150	3.278
Gazprom	+1.11%	117.85	2.479
Magnit	-0.13%	9799	1.335
Aeroflot	-1.16%	204	992

(59.1397 rubles – U.S. $1)

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