Russian stocks increase as oil prices, ruble rebound

MOSCOW, Jun 22 (PRIME) -- Russian stocks increased on Thursday in line with oil prices, which resumed growth after a recent drop, analysts said.

The MICEX rose 0.50% to 1,860.05 and the RTS increased 0.53% to 978.45.

“After a reduction at the beginning of the session in line with European floors, Russian stock indices started restoring catching on the Brent oil price, which has stabilized above the level of U.S. $45 per barrel, slightly moving from 10-month lows,” InstaForex analyst Igor Kovalyov said.

Finam expert Vasily Oleinik said that “oil prices are restoring after yesterday’s drop, which is supporting the Russian ruble.”

Shares of multi-industry holding Sistema jumped 7.29% on reports that the company offered oil major Rosneft an out-of-court settlement of a 170.6 billion ruble case.

Metals companies and coal producers were among growth leaders. Magnitogorsk Iron and Steel Works (MMK) grew 5.45%, steel maker Novolipetsk Steel (NLMK) rose 1.58%, Mechel soared 4.13%, and coal producer Raspadskaya jumped 5.4%. Raiffeisen Capital analyst Sofya Kirsanova said heavy rains in China threatening reduction of coal production provoked 5% growth of coal prices, which led to increased interest in Russian coal producers.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.53	144.25	7.844
Gazprom	+1.34	119.55	3.745
Norilsk Nickel	-5.31	7850.00	3.488
Lukoil	+1.17	2760.50	2.279
Rosneft	+0.19	319.00	1.852

(60.0000 rubles – U.S. $1)

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