MOSCOW, Aug 26 (PRIME) -- Russian stocks increased on Friday, because investors expect the U.S. Federal Reserve System (Fed) may take a break before raising the key rate, and on the back of higher stock markets and oil prices, analysts said.
The MICEX rose 0.39% to 1,993.35 and the RTS increased 0.74% to 973.43.
“External conditions are positive. Futures for U.S. and European indices are rising. (Fed Chairwoman Janet) Yellen made it clear that on the one hand, the number of reasons to raise the rate is growing. On the other hand, she said that everything will depend on the fact whether macroeconomic statistics will coincide with forecasts of the regulator,” Forex Club analyst Irina Rogova said.
“So she left the door open for a possible pause before the next increase again,” the analyst said.
Vasily Tanurkov, deputy head of the stock market research department at Veles Capital, said that statements made by Yellen supported not only stock indices, but also raw material markets.
The rise of oil prices, which pushed the Russian market higher, was sped up by the news that Yemen launched a missile strike at infrastructural facilities of Saudi Aramco, the analyst said citing Iran’s Press TV.
Vitaly Manzhos, a senior analyst at Bank Obrazovanie, said that top Russian lender Sberbank which increased 1.69% to 145.25 rubles, was still supported by strong results under International Financial Reporting Standards (IFRS).
The bank’s net profit almost doubled in April–June and tripled in January–June, and investors expect Sberbank’s common shares to rise to 150 rubles and its preferred shares to test 105 rubles soon, Manzhos said.
Coal producer Raspadskaya fell 5.18% to 39 rubles, while the company’s revenue under IFRS fell 15% to U.S. $193 million in January–June, although it earned a $49 million net profit due to a foreign exchange gain, Manzhos said.
Raiffeisen Capital analyst Sofya Kirsanova said that pipe producer TMK rose 0.84% to 53.90 rubles after its board of directors recommended paying 1.94 rubles per share in interim dividends.
Below are the MICEX’ five most active stocks on Friday:
| Company | Change, % | Last price, rbl | Trading volume, bln rbl |
|---|---|---|---|
| Sberbank | +1.69 | 145.25 | 10.864 |
| Gazprom | +0.58 | 136.20 | 2.826 |
| Lukoil | -0.79 | 3025.00 | 1.982 |
| Surgutneftegas pref | +1.48 | 31.62 | 1.432 |
| Norilsk Nickel | -1.67 | 9597.00 | 1.411 |
(64.9459 rubles – U.S. $1)
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