Russian stocks increase as foreign markets, oil prices rise
MOSCOW, Jul 9 (PRIME) -- The Russian stock market edged up on Monday backed by an encouraging global environment and strong crude, analysts said.
The MOEX Russia Index grew 1.18% to 2,373.17 and the RTS rose 1.68% to 1,193.17.
УThe Russian stock market added around 1% on MondayЕ The sentiment on the global market looks moderately optimistic with rising risk appetiteЕ (Investors expect) the trade dispute between China and the U.S. to resolve soon avoiding further escalation to ensure a rise on the stock exchanges. The positive mood may expand to the Russian market as well,Ф analyst at Freedom Finance Anastasia Sosnova said.
Veles Broker analyst Yelena Kozhukhova said that the local market was supported by strong crude prices with the Brent oil futures at around U.S. $78 per barrel, and the coming meeting of President Vladimir Putin with U.S. President Donald Trump scheduled for July 16.
Metals companies were among the top performers. Steelmaker Severstal rose 2.23% to 962.9 rubles, mining group Mechel grew 2.07% to 138.15 rubles, and steelmaker Novolipetsk Steel (NLMK) went up 2.04% to 157.42 rubles.
Top bank Sberbank added 1.45% to 230 rubles thanks to another sound financial report demonstrating a 25.5% rise in the net profit under Russian Accounting Standards (RAS) in January-June.
Below are the MOEX Russia IndexТs five most active stocks on Monday:
|Company||Change, %||Last price, rbl||Trading volume, bln rbl|
(63.1216 rubles Ц U.S. $1)