Russian stocks increase backed by encouraging dividend news

MOSCOW, May 11 (PRIME) -- The Russian stock market edged up on Thursday mainly thanks to positive dividend news and despite a negative external environment, analysts said.

The MOEX Russia Index grew 1.82% to 2,595.12 and the RTS increased 1.15% to 1,064.56.

“The Russian stocks market stayed in the positive territory at the end of the main trading session on Thursday, but bounced back from the day’s peaks… The ruble-denominated indicator consolidated above 2,850, which marks a possibility of its return to the year’s highest of over 2,580,” Veles Broker analyst Yelena Kozhukhova said.

Foreign stock exchanges demonstrated mainly negative dynamics and avoided risks in the conditions of tough policies of the financial regulators, and the Brent oil price lost around 1% remaining below the resistance mark of U.S. $77 per barrel, she added.

Freedom Finance Global’s Senior Analyst Natalya Milchakova said that the market’s positive movement was linked to dividend news, and Deputy Finance Minister Alexei Moiseyev’s statement about an option of large-scale privatization in Russia.

Kozhukhova also said that top bank Sberbank actively closed its dividend gap, and its common shares rose to over 235 rubles apiece at some moments during the day.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+2.46	232.64	30.027
Lukoil	+2.15	4817.5	7.476
Gazprom	+0.38	176.2	5.954
VTB Bank	-0.84	0.021915	4.537
Polyus	-0.9	10646	4.060

(76.6929 rubles – U.S. $1)

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