Russian stocks rise as oil prices grow amid OPEC+ meeting

MOSCOW, Apr 9 (PRIME) -- Russian stocks increased on Thursday backed by oil price growth in anticipation of the OPEC+ meeting results and positive moods on foreign exchanges, analysts said.

The MOEX Russia Index grew 1.19% to 2,701.77 and the RTS rose 3.67% to 1,155.49.

“The MOEX Russia Index and the RTS were trying to stay in positive territory by the end of trading amid maintaining optimism on foreign markets,” Veles Capital analyst Yelena Kozhukhova said.

The foreign background was moderately positive. Trading on the U.S. floors started with an increase of three main indices, which were adding around 0.1–1.3% by the end of the Russian session. Positive moods prevailed on European bourses.

Oil quotations were growing in expectation of news from the OPEC+ meeting. Investors are expecting a reduction of the combined oil output by at least 10 million barrels per day, while according to media reports the countries are discussing lowering the production by up to 20 million barrels per day, Kozhukhova said.

Precious metals producer Polymetal was among growth leaders, rising 5.41% following an increase in gold prices. Oil company Bashneft added 5.43%.

Internet giant Yandex was among outsiders losing 1.66%.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.66	203.61	22.321
Gazprom	-0.13	193.86	16.286
Lukoil	+1.19	5201.00	11.895
Rosneft	+3.37	353.00	9.486
Norilsk Nickel	+4.83	21138.00	7.333

(75.7499 rubles – U.S. $1)

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