Russian stocks increase on low volume on G7 statements

MOSCOW, Jun 9 (PRIME) -- The Russian stock market increased on Saturday in thin trade supported by statements from a G7 summit, analysts said.

The MOEX Russia Index grew 0.60% to 2,281.51 and the RTS index increased 0.55% to 1,149.19.

Andrei Kochetkov, an analyst at Otkritie Broker, said that news from the G7 summit point to a possible improvement of foreign policies and economic environment for Russia.

A new Italian prime minister said that Rome can veto prolongation of the European restrictions against Russia. U.S. president Donald Trump said that he would like Russia to reenter the G8.

Kochetkov said that a possible meeting between Trump and Russian President Vladimir Putin is also a factor of confidence for Russian investors.

Vitaly Manzhos, senior risk manager at investment company Nord Capital, said that the Moscow Exchange shares were market leaders, rising 0.9% after a four-day sell-off.

Surgutneftegas’s common and preferred shares grew 0.62% and 0.59% respectively as safe haven stocks, he said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.78	212.6	1.382
Sberbank pref	-0.06	189.21	0.353
Gazprom	+0.72	144.08	0.227
Lukoil	+0.76	4191	0.222
Norilsk Nickel	+1.14	11484	0.201

(62.6680 rubles – U.S. $1)

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