Russian stocks increase as foreign markets, oil prices rise

MOSCOW, Jun 19 (PRIME) -- The Russian stock market grew on Monday, recovering after last week’s sales, on the back of positive trends on foreign markets and rising oil prices, analysts said.

The MICEX rose 1.47% to 1,849.78 and the RTS increased 0.40% to 998.34.

“The day was uneventful, and the upward trend was a recovery after the market was oversold, which was mostly noticeable in blue chips,” Otkritie Broker analyst Andrei Kochetkov said.

InstaForex analyst Igor Kovalyov said that the Russian market was following a positive trend prevalent on foreign markets. Russian bulls were also supported by the oil prices’ attempts at growth, with the Brent consolidating at U.S. $47.5 per barrel.

According to Kochetkov, Gazprom’s shares are under the pressure of information that the Economic Development Ministry can apply a differentiated approach to dividend policies of state companies.

Kochetkov said that weakening of the ruble supported the shares traded in rubles.

Below are the MICEX’ five most active stocks on Monday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+2.38	145	7.954
Gazprom	+1.13	117.33	2.539
Lukoil	+3.52	2779.5	2.242
Norilsk Nickel	+1.18	8250	1.408
Aeroflot	+3.92	181.5	1.224

(57.7408 rubles – U.S. $1)

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