Russian stocks increase on oil price rebound, stronger ruble

MOSCOW, Nov 29 (PRIME) -- Russian stocks closed higher on Thursday backed mainly by resumed oil price growth, analysts said.  

The MOEX Russia Index rose 0.73% to 2,398.56 and the RTS increased 2.50% to 1,141.30.

“On Thursday, the Russian stock market continued strong growth, which was supported by an increase in oil prices,” Veles Broker analyst Yelena Kozhukhova said.

The ruble strengthened against the dollar and euro, receiving support from restoring oil prices, she said.

Optimistic moods were seen on European stock floors, while trading in the U.S. started with a decline of main indices.

Oil prices were adding around 1.5–2% after falling earlier in the day.

Power grid holding Rosseti was among growth leaders, adding 4.11% on reports that its net profit rose 9.4% on the year to 88.7 billion rubles in January–September, as calculated under International Financial Reporting Standards (IFRS).

Fertilizer producer Acron lost 0.17% after reporting that its IFRS net profit fell 27% on the year to 7.366 billion rubles in January–September.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+2.92	195.76	16.139
Gazprom	-0.36	164.99	7.169
Lukoil	+1.03	4766.00	6.059
Norilsk Nickel	-0.62	12691.00	2.822
Rosneft	-1.06	417.00	2.236

(66.9436 rubles – U.S. $1)

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