Russian stocks rise as oil prices rebound on statistics data

MOSCOW, Apr 4 (PRIME) -- Russian stocks increased on Wednesday after falling the entire trading day, as oil regained positions on good statistics data, while the overall foreign background remained negative, analysts said.

The MOEX Russia Index rose 0.08% to 2,265.60 and the RTS increased 0.27% to 1,240.39.

“On Wednesday, the Russian stock market managed to win back a major part of losses by the end of session. The reason for this was a recovery of foreign assets. The Brent oil price managed to grow to the level of U.S. $67.7 per barrel on statistics of the U.S. hydrocarbon reserves,” Freedom Finance senior analyst Bogdan Zvarich said.  

Moreover, tensions in relations between Russia and its Western partners have reduced lowering pressure on Russian assets, the analyst said.

Power producer Enel Russia gained 0.66% on reports that its net profit rose 16.9% to 5.942 billion rubles in 2017, as calculated under Russian Accounting Standards (RAS).

Russia’s largest carmaker AvtoVAZ lost 1.2% despite reporting that its domestic sales rose 22.3% on the year to 30,708 cars in March.

Shares of Kuzbass Fuel Company, whose net profit under International Financial Reporting Standards (IFRS) more than tripled to 2.104 billion rubles, decreased 2.97%.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.63	255.69	13.133
Gazprom	-0.67	140.18	3.114
Lukoil	-0.3	3939.00	2.534
Rosneft	+2.03	319.60	2.508
Norilsk Nickel	-0.88	10735.00	1.755

(57.5375 rubles – U.S. $1)

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