Russian stocks rise as oil prices outperform expectations

MOSCOW, Dec 11 (PRIME) – The Russian stocks grew on Friday thanks to stable oil prices, analysts said.

The MOEX Russia Index rose 0.56% to 3,276.58 and the RTS increased 0.58% to 1,412.88.

“The MOEX Russia Index and the RTS Index climbed into the green zone at the end of trade after mixed dynamics and in spite of the mixed external background,” Veles Capital’s analyst Yelena Kozhukhova said.

The U.S. bourses fell by 0.1–0.3% as of the end of trade on the Russian market as lawmakers are stalling coordination of an economic stimulation package, while the European bourses were in the red on on investor fears that the Brexit deal may fall through again, Kozhukhova said.

Valery Yemelyanov, analyst at investment company Freedom Finance, said that the RTS Index has set a new record high since February.

“The current rally is directly linked to the oil prices outperforming almost all forecasts,” Yemelyanov said.

The Brent oil price gained 0.08% to U.S. $50.29 per barrel as of 6.33 p.m. Moscow time, according to the ICE exchange.

Vitaly Manzhos, senior risk manager at investment company Algo Capital, said that payment service operator Qiwi grew by 3.50% to 828 rubles in correction after a 21.18% plunge on Thursday.

Kozhukhova also said that shares of Detsky Mir gained 4.69% to 145.50 rubles as they were supported by the news that Altus Capital had prolonged its offer until December 24 and that it had reduced the offer to a 25% stake in the company from 29.9%.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.52	283.67	19.863
Gazprom	+3.66	200.01	17.765
Lukoil	+2.35	5411.00	11.059
Norilsk Nickel	-0.41	23950.00	9.256
Detsky Mir	+4.69	145.50	4.372

(73.7124 rubles – U.S. $1)

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