Russian stocks rise as China confirms readiness to cooperate

MOSCOW, Sep 15 (PRIME) -- The Russian stock market increased on Thursday after a volatile session, after China agreed to cooperate with Russia in the key areas, analysts said.

The MOEX Russia Index increased 0.44% to 2,446.59, and the RTS index grew 0.41% to 1,288.03.

 "The MOEX Russia Index managed to stay in the green zone at the end of the session in spite of changing the trend several times during the day, falling at times, then returning to growth," Alexei Golovinov, leading analyst at Promsvyazbank, said.

The market was in the red zone in the first half of the session but then returned to a neutral dynamics. "A retrenchment of the oil prices and the ruble strengthening did not favor purchases. The current external background does not favor a change of the MOEX Russia Index trend, as the key U.S. stock markets' futures are trading in a small minus, the European markets are not seeing a unified dynamics," Finam analyst Anna Builakova said.

Veles Capital’s analyst Yelena Kozhukhova said that foreign markets were consolidating ahead of the publication of a new set of U.S. statistics data, and the Russian market followed the trend. Then, the market started to rise on the back of statements from a summit of the Shanghai Cooperation Organization that China was ready to cooperate with Russia in the key areas.

According to Builakova, Rosneft was one of the market outsiders after publishing a weak financial report for January–June, while O'Key was among the leaders, rising 3.69% on the back of a solid performance of the discounters in the chain. 

Kozhukhova said that coal producers decreased as the government said it was considering introducing an export duty on coal.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.58	139.7	7.556
Gazprom	+0.24	243.9	5.095
Rosneft	-2.42	366.65	5.065
Lukoil	+1.74	4550	2.630
Norilsk Nickel	+0.11	16232	1.915

(59.7751 rubles – U.S. $1)

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