Russian stocks increase as geopolitical tensions ease

MOSCOW, Sep 11 (PRIME) -- Russian stocks increased on Monday in line with positive dynamics on global floors amid eased geopolitical tensions around North Korea, analysts said.

The MICEX rose 0.56% to 2,044.13 and the RTS increased 0.64% to 1,126.74.

“European indices are demonstrating steady growth amid unfounded fears of regular missile launches by North Korea over the weekend,” Finam analyst Sergei Drozdov said.  

Yevgeniya Abramovich, chief of the department of the analysis of currency risks at Swiss brokerage house Dukascopy Bank SA, said that a new trading week on the global stock market started with growth of main stock indicators that was encouraged by eased geopolitical risks in Asia. “The thing is that North Korea did not make new missile tests over the past weekend, which was positively perceived by the market. Indices receive additional support from increased expectations of further acceleration of industrial production in China,” she said.

Shares of national top lender Sberbank have renewed a historic high surpassing the level of 190 rubles per share, a 2.48% increase, as investors are waiting for higher dividends, Otkritie Broker analyst Andrei Kochetkov said.  

Russia’s largest truck producer Kamaz fell despite reports that its revenue increased 28% on the year to 86.698 billion rubles in January–August, as calculated under International Financial Reporting Standards.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+2.48	190.50	11.689
Gazprom	+0.55	121.00	4.875
Norilsk Nickel	-0.08	9667.00	2.219
Rosneft	-0.24	314.20	1.810
Lukoil	-0.55	2909.00	1.352

(56.9966 rubles – U.S. $1)

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