Russian stocks jump on high oil, stronger ruble

MOSCOW, Nov 7 (PRIME) -- Russian stocks increased on Tuesday backed by oil price growth to U.S. $64 per barrel and the ruble’s strengthening, analysts said.

The MICEX gained 3.57% to 2,155.55 and the RTS added 3.39% to 1,146.98.

“Russian stock indices, which did not trade on Monday, are taking a lead from yesterday’s rally of oil quotations and global floors. Today, global investors continue to show interest in risks, while oil has stabilized around new long-term highs, which led to a powerful leap of domestic benchmarks,” InstaForex analyst Igor Kovalyov said.

Veles Broker analyst Yelena Kozhukhova said “a sharp leap of oil prices over the past two trading days was the main positive factor for the Russian market.”

Oil company Tatneft’s common shares jumped 12.45% and preferred shares grew 10.99% after the company’s board of directors recommended paying 27.78 rubles per share, or 75% of net profit, in dividends for January–September, Kozhukhova said.

Sberbank’s shares soared 6.27% on the ruble’s appreciation against the dollar.

Below are the MICEX’ five most active stocks on Tuesday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+6.27	205.96	27.335
Gazprom	+5.07	132.28	10.742
Lukoil	+4.94	3325.00	5.303
Norilsk Nickel	+0.51	11610.00	4.934
Magnit	-0.14	7380.00	3.108

(58.4296 rubles – U.S. $1)

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