Russian stocks increase thanks to support of strong crude prices

MOSCOW, Jun 23 (PRIME) -- The Russian stock market started the day higher, then lost part of its optimism in the middle of the trading session, but managed to bounce back upwards again by the end of the day on Wednesday, following the dynamics of global bourses and strongly backed by expensive oil, analysts said.

The MOEX Russia Index grew 0.40% to 3,837.15 and the RTS increased 1.25% to 1,666.21.

“The morning began positively on the Russian stock market thanks to the Brent crude price of above U.S. $75 per barrel… But European indices started to fall in the middle of the day, which impacted optimism of Russian investors,” Otkritie Broker analyst Andrei Kochetkov said.

Gold producers performed worse than the market and raw diamond miner ALROSA fell 3.44%, he said.

Kochetkov added that the transport sector demonstrated bad performance losing 0.87% because of the weakening shares of national flagship carrier Aeroflot.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Rosneft	+3.29	570	10.322
Gazprom	+0.11	277.31	8.945
Sberbank	+0.41	311	7.175
Lukoil	-1.21	6634	6.800
Norilsk Nickel	+1.24	25390	6.245

(73.1661 rubles – U.S. $1)

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