Russian stocks grow thanks to support of external background

MOSCOW, Jun 7 (PRIME) -- The Russian stock market edged down at the opening on Monday, but then reversed to hit highs at the end of the trading session thanks to the support of the external environment, analysts said.

The MOEX Russia Index grew 0.39% to 3,822.21 and the RTS increased 0.36% to 1,652.99.

“The Russian stock indices were pressured by a moderately negative external background at the beginning of the trading session, but thanks to improvement of the background, they returned to upward movement to hit highs seen on June 4 again,” BCS World of Investment expert Dmitry Babin said.

Risky assets were additionally pressured by weaker than expected trade balance data, issued by China, Babin also said, adding that investors are careful and avoid aggressive actions.

In the second half of the trading session, global bourses demonstrated a steep fall, and crude reversed downwards, but the Russian market accelerated growth with the RTS index hitting a new 9-year high, Babin said.

Veles Broker analyst Yelena Kozhukhova said that oil and gas pipe maker TMK was among the best performers adding 3.44% ahead of a release of the IFRS results for January–June.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.18	314.6	12.091
Gazprom	+0.41	275.42	9.053
Lukoil	+0.98	6575	5.763
Norilsk Nickel	-0.69	26218	4.651
Rosneft	-0.98	551	3.779

(73.2721 rubles – U.S. $1)

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