Russian stocks increase on troop withdrawal from Ukraine

MOSCOW, Feb 15 (PRIME) -- The Russian stock market grew on Tuesday as military tensions on the border with Ukraine eased after Moscow withdrew some troops, analysts said.

The MOEX Russia Index grew 3.42% to 3,600.29, and the RTS index increased 5.05% to 1,498.04.

"The global stock market indicators and the oil prices were initially under moderate pressure. After the start of the European session, the stocks jumped at first while oil got dramatically cheaper,” Dmitry Babin, stock market expert at BCS World of Investment, said.

“The good news was a Russian Defense Ministry statement that the Western and Southern military district units started returning to their bases."

Negotiations between Russian President Vladimir Putin and German Chancellor Olaf Scholz started in the Kremlin in the evening. Head of the E.U. diplomacy Josep Borrell said that Europe was ready to discuss Russia's security proposals. According to Otkritie Research’s leading analyst for global research Andrei Kochetkov, the Russian market felt easing of the geopolitical tensions immediately.

Besides, a meeting of the U.S. Federal Reserve System (Fed) board late on Monday did not bring about any negative news for the market. Investors ignored the fact that the yield on 10-year U.S. Treasuries exceeded 2%, Babin said. 

The oil prices lost more than 3%, but, according to Kochetkov, the fall may be contained by the release of the U.S. reserves indicators, as the market waits for reduction of the reserves. Bad weather in Texas this week can also affect the market to a certain extent.

Kochetkov said that the finance sector was the gain leader as the sanctions risks decreased. The IT companies also rose after losing 24% since January 1.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+5.26	270.21	64.616
Gazprom	+3.2	332.16	29.635
Yandex	+12.92	3920	22.935
Lukoil	+2.74	6982	11.660
TCS Group	+3.98	5431	8.812

(76.5762 rubles – U.S. $1) 

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