Russian stocks increase supported by oil, gas prices growth

MOSCOW, Dec 12 (PRIME) -- The Russian stock market traded mixed and closed higher on Tuesday backed by strengthening oil and gas, analysts said.

The MOEX Russia Index grew 0.57% to 2,160.75 and the RTS rose 0.48% to 1,149.88.

“The Russian stock indices demonstrated their readiness for confident growth, which may unfold into a New Year rally. On Tuesday, the benchmarks are in no haste to fall from local highs, but investors need to be careful,” Veles Broker analyst Yelena Kozhukhova said.

The Brent oil price surged to above $65 per barrel after the U.K.’s Forties Pipeline System in the Northern Sea had been shut down potentially for weeks.

Gas giant Gazprom rose 0.63% to 135.5 rubles on advancing gas prices due to an explosion at one of Europe’s largest gas hubs, Austria’s Baumgarten.

Independent gas producer Novatek added 2.67% to 695 rubles after it disclosed its production and development plans until 2030.

Largest children goods retailer Detsky Mir was among the biggest losers sliding 8.23% to 92.55 rubles on the news that multi-industry holding Sistema and the Russia-China Investment Fund (RCIF) sold 6.3% of the company.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.09%	227.9	9.045
Gazprom	+0.63%	135.5	3.398
Norilsk Nickel	+3.49%	10787	2.849
Lukoil	+1.19%	3473.5	1.758
Magnit	-1.44%	6559	1.620

(59.2348 rubles – U.S. $1)

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