Russian stocks grow slightly in line with global floors, oil prices

MOSCOW, May 24 (PRIME) -- The Russian stock market edged up on Monday supported by increasing crude prices and optimism on foreign bourses, analysts said.

The MOEX Russia Index grew 0.06% to 3,662.51 and the RTS increased 0.09% to 1,570.90.

“The MOEX Russia and the RTS indices have not changed significantly by the end of the trading session, pressured by political factors... The market was again standing still, but the upward trend persisted,” Veles Broker analyst Yelena Kozhukhova said.

Optimism prevailed on foreign stock exchanges, but it supported the Russian market only partially. An incident of a Ryanair jet forced to land in Minsk can be linked to Russia only indirectly, but it could have restrained positive dynamics on the local bourses as it reminded investors of political risks, Kozhukhova also said.

Promsvyazbank senior analyst Vladimir Lyashchuk said that the Brent oil price grew 2.2% thanks to encouraging outlooks on growth of the global economy, the opening of a road season in the U.S. and risks of unfavorable weather in the Gulf of Mexico.

Russian energy stocks followed the optimistic dynamics with gas giant Gazprom’s shares rising 0.41% and oil company Surgutneftegas’ preferred shares increasing 0.78%, he added.

Kozhukhova said that power produces TGC-1 was among the best performers adding 1.06% thanks to a decision to pay dividends for 2020 with a yield of around 8.4%.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.43	299.94	8.581
Gazprom	+0.41	259.07	5.515
Norilsk Nickel	-0.39	26958	5.016
Yandex	+2.53	4887.8	3.191
Lukoil	-0.04	5798	3.118

(73.5803 rubles – U.S. $1)

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