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Russian stocks increase on Fed flat key rate, oil growth

MOSCOW, Sep 22 (PRIME) -- Russian stocks increased on Thursday in line with growth on global floors caused by the U.S. Federal Reserve System’s (Fed) decision to keep its key rate flat and supported by rising oil prices, analysts said.

The MICEX rose 1.38% to 2,025.30 and the RTS increased 2.31% to 1,002.13.

“Investor optimism is caused by results of a meeting of the Federal Reserve System, which decided not to raise the rate, as well as by further growth of Brent oil price, which is maintaining above the level of U.S. $47 per barrel,” InstaForex analyst Igor Kovalyov said.

National top lender Sberbank grew 2.33% on the back of the strengthening ruble.

Uncut diamond monopoly ALROSA increased 1.31% on reports that the company’s revenue from diamond sales rose 58% on the year to $243 million in August and by 23% to $3.091 billion in January–August.

National flagship carrier Aeroflot gained 1.35% amid contradictory reports that the company may sell its unit airline Rossiya Airlines, which was later denied by the company, Vitaly Manzhos, a senior analyst at Bank Obrazovanie, said.

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

Company Change, % Last price, rbl Trading volume, bln rbl
Sberbank +2.33 154.18 10.132
Gazprom ­+0.33 136.70 3.948
Norilsk Nickel +3.13 9715.00 2.222
Lukoil +2.51 3125.00 2.218
Rosneft +0.12 360.45 1.166

(64.4424 rubles – U.S. $1)

End

22.09.2016 19:12