Russian stocks increase backed by exporters’ shares growth

MOSCOW, Aug 20 (PRIME) -- Russian stocks increased on Thursday, with the MICEX being supported by exporters’ shares, while the RTS growth was limited by the ruble weakening, analysts said.

The MICEX rose 1.30% to 1,695.57 and the RTS increased 0.17% to 795.51.

“On Thursday, the Russian stock market rebounded after yesterday’s decline,” Sofya Kirsanova, analyst at Raiffeisen Capital, said.

The continuing ruble fall supported the MICEX due to a rise in shares of exporters, Veles Capital’s analysts said in a research note.

The indices were traded close to local minimums, while the market was depressed by Brent price, which was falling to new record lows from January, InstaForex analyst Igor Kovalyov said.

The rise of the dollar-denominated RTS was put under pressure by the ruble weakening, Finam analyst Timur Nigmatullin said. Today the ruble tested over 67.5 against the dollar, depressed by low oil prices, strong dollar and devaluation of the Kazakh tenge, but managed to rebound to about 67 against the dollar by the closing bell.

Non-oil exporters, particularly fertilizer producers, examined highest growth on the back of the weak ruble, Kirsanova said.

Thus, potash fertilizer maker Uralkali added 3.13% to 197.95 rubles, fertilizer and phosphates producer PhosAgro rose 2.19% to 2,937 rubles and fertilizer major Acron added 2.87% to 2,831 rubles.

Metals makers and exporters Norilsk Nickel and Severstal increased 3.31% and 2.32% to 10,047 and 732.1 rubles, respectively.

Companies, focused on the domestic market, including telecom companies, banks, developers and retailers, decreased on the back of the currency depreciation, Kirsanova said.

Mosoblbank, which is under a bailout process, fell 15.38% to 6.6 rubles.

The preliminary Manufacturing Purchasing Manager Index in China will be published Friday morning, and if investors’ expectations are surpassed, it will back both stock markets and prices for raw materials, Veles Capital’s analysts said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.77	72.05	7.776
Gazprom	+1.31	142.64	5.032
Norilsk Nickel	+3.31	10,047.00	3.192
Lukoil	+0.75	2,487.10	2.898
Surgutneftegas pref	+1.80	39,345	1.487

(65.7222 rubles – U.S. $1)

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