Russian stocks increase supported by rising crude prices
MOSCOW, Mar 20 (PRIME) -- The Russian stock market fell in the morning, but recovered enough to close in the positive territory later in the day on Tuesday on the back of oil prices growth, analysts said.
The MOEX Russia Index grew 0.41% to 2,291.18 and the RTS rose 1.19% to 1,256.00.
УThe MOEX Russia Index and the RTS increasedЕ the local bulls were supported by the crude futures, which managed to hit the weekТs record highЕ Internal political risks have disappeared after the presidential election finished,Ф Vitaly Manzhos, senior risk manager at investment company Nord Capital, said.
Analysts of brokerage house Dukascopy Bank said that oil prices have been rising for the second consecutive day. Brent oil futures have reached U.S. $67.5 per barrel, buoyed by media reports about effective fulfillment of an OPEC+ oil production cut agreement.
Stronger crude prices supported domestic oil producers. Tatneft soared 1.47% to 620 rubles, Lukoil added 1.18% to 3,860 rubles and Rosneft grew 0.49% to 317.55 rubles.
Sberbank and VTB Bank were also among the best performers, the stocks increased 0.84% to 257.15 rubles and 0.94% to 0.0539 rubles, respectively.
Russia's gold producer Polyus fell 0.59% to 4,680 rubles on the news its gold ore reserves fell to 68 million ounces in 2017.
Below are the MOEX Russia IndexТs five most active stocks on Tuesday:
|Company||Change, %||Last price, rbl||Trading volume, bln rbl|
(57.5521 rubles Ц U.S. $1)