Russian stocks rebound as foreign markets increase

MOSCOW, Dec 22 (PRIME) -- The Russian stock market grew on Tuesday correcting after a Monday's slide on the back of a positive trend on åðó foreign markets, analysts said.

The MOEX Russia Index increased by 1.57% to 3,236.46, and the RTS index rose by 1.16% to 1,351.43.

“Morning on the Russian market was marked by uncertainty. The MOEX Russia Index decreased to 3,175.5, but correction has not developed so far. Europe opened higher, which improved the mood of local investors significantly," Otkritie Broker analyst Andrei Kochetkov said.

Veles Capital analyst Yelena Kozhukhova said that the oil market remained under pressure but the speed of the price fall decreased to about 1%.

Kochetkov said that oil and gas, and metals and mining grew by 1.3%, the financial industry by 2%, telecom securities rose by about 0.2%. He added that the securities which fell most on Monday were the key drivers of Tuesday's growth.

VSMPO-Avisma slumped in the morning after the company appeared on the U.S. blacklist but later corrected upwards, rising 0.20% as it is unlikely that the U.S. will prohibit sales of the company products because it is crucial for the aviation and space industry of the country, Kochetkov said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.43	262.92	25.899
Gazprom	+3.15	209.86	21.230
Norilsk Nickel	+1.65	23786	5.527
Lukoil	-0.1	5090.5	5.496
Polyus	-3.67	15076	3.476

(74.6721 rubles – U.S. $1)

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