Russian stocks increase as Sberbank restarts report publication

MOSCOW, Nov 10 (PRIME) -- The Russian stock market surged on Thursday after CEO of the country's biggest lender Sberbank German Gref announced the restart of financial reports publication after a pause in the wake of a special military operation, analysts said.

The MOEX Russia Index grew 2.01% to 2,210.02, and the RTS index increased 3.27% to 1,150.36.

"Thursday's trading was on the positive territory," Finam analyst Anna Builakova said. "The MOEX Russia Index was supported by heavyweight Sberbank that has returned to regular reporting from this month. A statement by CEO German Gref that the bank planned to return to dividend payments in 2023 also supported the shares."

Veles Capital analyst Yelena Kozhukhova said that the external background was mixed as in Europethe Euro Stoxx 50 index eased by 0.2% in the middle of the session, mainly due to a serious decline of the financial sector shares.

The nearest Brent and WTI futures lost about 1% below a support level of U.S. $94 and $87.50 respectively, while in the U.S., the S&P 500 index corrected upwards by 0.2%.

According to Kozhukhova, foreign investors were waiting for the U.S. inflation data release, which is why trading was slow.

TCS Group gained after announcing several possible acquisitions, she said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+6.73	135.87	21.432
Gazprom	+0.78	168.4	3.605
Polyus	+3.86	6683	2.215
Lukoil	+1.21	4688	1.979
TCS GDR	+6.39	2681.5	1.908

(61.0611 rubles – U.S. $1)

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