Russian stocks keep on rising on strong oil, softening tensions

MOSCOW, Apr 18 (PRIME) -- The Russian stock market continued to win back last week’s losses amid an improving global environment on Wednesday, analysts said.

The MOEX Russia Index grew 2.30% to 2,241.49 and the RTS rose 2.95% to 1,154.55.

“There was a lift in spirits on the Russian stock market on the back of the news that the U.S. administration plans a pause in the sanctions issue,” Veles Broker analyst Yelena Kozhukhova said.

The Washington Post reported earlier this week that the U.S. President Donald Trump postponed a preliminary plan to impose additional sanctions on Russia, retracting an April 15 announcement by U.S. Ambassador to the U.N. Nikki Haley.

Otkritie Broker analyst Timur Nigmatullin said that the domestic market was also backed by strengthening crude which surged to over U.S. $73 per barrel on rumors of preparations for a massive military operation in Syria.

International rating agency Fitch said that Russian banks would face difficulties at a ruble rate of above 70 rubles per U.S. dollar, which supported the banking stocks. Top lender Sberbank added 4.03% to 215.87 rubles and the second biggest bank VTB Bank grew 1.59% to 0.053 rubles.

Precious metals producer Polymetal International was among the top gainers soaring 8.5% to 605.2 rubles thanks to a sound report demonstrating a 19% rise in revenue.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank, common	+4.03%	215.87	37.413
Lukoil	+2.28%	4030	4.357
Sberbank, preferred	+4.79%	190.5	4.288
Gazprom	+1.65%	144.75	4.045
Norilsk Nickel	+4.33%	10672	3.864

(61.1454 rubles – U.S. $1)

End