Russian stocks increase on positive geopolitical background

MOSCOW, Feb 9 (PRIME) -- The Russian stock market closed with a significant increase on Wednesday, supported by positivity in the global geopolitical arena, analysts said.

The MOEX Russia Index grew 2.46% to 3,638.93 and the RTS increased 3.06% to 1,534.82.

“All the positivity was based on the improved geopolitical background after the talks between the presidents of Russia and France. The correction in oil is not deepening and prices remain in the area of seven-year highs for a barrel of Brent, which is also good news for buyers,” Vladislav Silayev of Alfa Capital said.

According to Yevgeny Linchik of Sber Asset Management, political calm helped investors gain some appetite for risk, which proved helpful for the Russian stock market’s dynamics.

As Yelena Kozhukhova of Veles Capital said that so far, the short-term situation has remained favorable for buyers.

The global stock markets were dominated by positive sentiment, which also supported the stock market, Yegor Zhilnikov of PSB Bank said. The mining and metallurgy sector demonstrated strong dynamics, and fertilizers producer PhosAgro performed well on news of high 2021 dividends.

The shares of Raspadskaya, TCS Group, Detsky Mir and Mechel lead the growth list on Wednesday, gaining from 5.71% to 8.81%, while CIAN, TMK, Beluga and LSR were losing from 0.57% to 1.87%, Silayev said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+3.55	279.37	50.426
Gazprom	+1.18	335.63	19.804
Lukoil	+0.74	7009	9.903
TCS Group	+11.89	5670	7.074
Norilsk Nickel	+1.9	22798	6.678

(75.3042 rubles – U.S. $1)

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