Russian stocks increase as Syrian conflict abates

MOSCOW, Apr 12 (PRIME) -- The Russian stock market closed higher on Thursday as investors were relieved by the absence of escalation of the Syrian conflict, analysts said.

The MOEX Russia Index grew 0.82% to 2,210.05 and the RTS increased 3.84% to 1,125.09.

“After anxious days some calm has reached the Russian market. The trade volume is still high but is gradually approaching the norm,” Andrei Kochetkov, an analyst at Otkritie Broker, said.

Growth of Russian assets is supported by the absence of bad news, first of all, on the Syrian conflict, which may mean existence of secret negotiations and a possible peaceful outcome, Kochetkov said.

U.S. Treasury Secretary Steven Mnuchin’a comment that he is against sanctions on Russia’s sovereign debt, also supported the market, Kochetkov said.

Kochetkov said that the shares of exporters decreased as the ruble rose.

Rosneft grew on a high oil price and attendance by CEO Igor Sechin of court hearings to testify against former Economic Development Minister Alexei Ulyukayev, the analyst said.

The banking sector surged propped by the strong ruble, he said.

Raiffeisen Capital analyst Sofya Kirsanova said that Sberbank was the growth leader after losses of previous days.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+2.02	212.21	27.108
Rosneft	+2.78	333	6.029
Gazprom	+0.50	145.99	5.898
Lukoil	-2.24	3979	4.728
Norilsk Nickel	+4.94	10376	4.245

(64.0626 rubles – U.S. $1)

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