Russian stocks increase after OPEC+ committee meeting

MOSCOW, Jun 1 (PRIME) -- The Russian stock market increased on Tuesday as oil prices rose ahead of and after statements of the OPEC+ monitoring committee about a demand growth, analysts said.

The MOEX Russia Index grew 1.15% to 3,764.59, and the RTS index increased 1.04% to 1,614.21.

"The external background was remarkably optimistic on the back of strong data on business activity in China and the euro zone. Brent exceeded U.S. $70 per barrel and set a new maximum for this year," Otkritie Broker analyst Andrei Kochetkov said.

Veles Broker analyst Yelena Kozhukhova said that the oil market accelerated rise to 2% even before results of the meeting of OPEC+ committee as market participants hoped for a further increase in global demand after a publication of strong manufacturing figures in China and Europe and on expectations of a start of the car travelling season. A weakening of the U.S. dollar was another reason for growing oil, she said.

European markets grew with the Euro Stoxx 50 rising 1.4%, the U.S. market was moderately positive before the opening as the S&P 500 futures rose 0.5%, Kozhukhova said.

Russia's Polymetal rose 1.28% on Tuesday in line with gold and silver prices, Kozhukhova said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Lukoil	+3.3	6191	12.340
Sberbank	+0.16	311.3	11.117
Gazprom	+1.26	264.31	8.145
Rosneft	+2.1	542.55	5.245
Norisk Nickel	+1.12	26700	5.061

(73.2965 – U.S. $1)

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