Russian stocks rebound after Tue geopolitical tense-related slide

MOSCOW, Nov 25 (PRIME) -- Russian stocks increased on Wednesday despite a drop in global oil prices, having stabilized following Tuesday’s sales caused by major geopolitical changes, analysts said.

The MICEX rose 1.30% to 1,833.53 and the RTS increased 1.31% to 878.89.

“Russian stock floors are stabilizing after yesterday’s sales provoked by drastic changes on the geopolitical background. But the growth potential looks quite limited due to uncertainties over the Russian–Turkish incident, cheapening oil and weakening ruble,” InstaForex analyst Igor Kovalyov said.

On Tuesday, Russia’s Sukhoi Su-24 bomber was shot down by an air-to-air Turkish missile and crashed in Syria.

“We believe the growth is no more than a correction to yesterday’s drop on reports about the Su-24 plane shootdown,” Veles Capital analysts said in a research note.

Gas giant Gazprom was among outsiders, falling by 1.14% on reports that it ceased gas supplies to Ukraine until Kiev makes the new payment, as well as over uncertainties of energy cooperation with Turkey.

Uncut diamond mining giant ALROSA gained 2.37% on reports that its net profit surged to 32.22 billion rubles in January–September from 12.784 billion rubles in the same period a year ago, as calculated under International Financial Reporting Standards (IFRS).

Oil major Rosneft rose 2.18% after reporting that its IFRS net profit grew 16% on the year to 303 billion rubles in January–September.

National top lender Sberbank closed 2.76% higher despite a 38% decline in its IFRS net profit for January–September.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+2.76	108.51	12.803
Gazprom	-1.14	143.99	6.285
Lukoil	+1.16	2606.90	2.443
Magnit	+1.03	12022.00	1.901
Rosneft	+2.18	271.55	1.491

(65.6210 rubles – U.S. $1)

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