Russian stocks moderately rise backed by oil price growth

MOSCOW, Oct 6 (PRIME) -- Russian stocks moderately rose on Thursday supported by high oil prices, but the growth was curbed by mixed dynamics on European floors, analysts said.

The MICEX rose 0.41% to 1,983.88 and the RTS increased 0.72% to 1,004.25.

“Russian stocks are moderately increasing today. At the same time, the energy market continues steady growth, the Brent oil price gained over 1% from the previous close and surpassed the mark of U.S. $52 per barrel. However, the predominance of neutral moods in Europe, where main floors are trading in mixed direction, have a deterrent effect on our players and do not allow them to take a full lead from oil price growth,” Finam analyst Bogdan Zvarich said.

Veles Capital analyst Alexander Kostyukov said the oil price growth was driven by reports that Russia and OPEC may hold an informal meeting on oil production freeze during the World Energy Congress in Istanbul next week.

Shares of diamond mining giant ALROSA jumped 4.38% after the company said it sold $435.1 million worth of diamonds and $18.9 million of cut diamonds in September, Vitaly Manzhos, a senior analyst at Bank Obrazovanie, said.

Oil and gas producer Surgutneftegas rose 3.2% on reports that the company’s oil output increased 0.22% on the year to 46.17 million tonnes in January–September.

Fertilizer maker Uralkali lost 2.13% after President Vladimir Putin ordered the Prosecutor General’s Office to check whether the company complies with legislation during stowing operations at mines.

Oil major Rosneft gained 0.5% and oil company Bashneft lost 2.74% on reports that the government allowed Rosneft to buy a 50.08% stake in Bashneft without an auction for no more than 330 billion rubles.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.64	148.90	4.866
Gazprom	+0.82	135.90	2.663
ALROSA	+4.38	92.48	1.598
Norilsk Nickel	-0.58	9475.00	1.186
Lukoil	-0.20	3070.00	1.085

(62.4583 rubles – U.S. $1)

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