Russian stocks rise backed by global floors, corporate news

MOSCOW, Oct 24 (PRIME) -- Russian stocks closed higher on Thursday receiving support from the global environment and corporate news, analysts said.

The MOEX Russia Index grew 1.97% to 2,877.05, renewing a historic high, and the RTS added 1.52% to 1,413.63.

“The MOEX Russia Index and the RTS remained in plus by the end of trading on Thursday and accelerated growth mainly on the back of certain corporate stories,” Veles Capital analyst Yelena Kozhukhova said.

Trading on the U.S. floors started with an increase of three main indices, which were showing mixed dynamics by the end of trading in Russia. Trading in Europe was on a moderately positive note.

Oil prices resumed growth by the evening, but were adding less than 0.5%.

Oil and gas company Surgutneftegas’ common shares and metals giant Norilsk Nickel were among growth leaders, adding 8.41% and 3.54%, respectively. Oil major Lukoil gained 2.91% on dividend expectations and signing of cooperation memorandums.

Electronic goods and household appliances retailer M.Video and multi-industry holding Sistema were among outsiders, losing 0.61% and 1.89%, respectively.

Precious metals producer Polymetal International grew 3.44% after reporting that its gold production rose 25% on the year to 1.005 million ounces in January–September.

Steelmaker Novolipetsk Steel (NLMK) lost 0.79% on reports that its net profit shrank by 34% on the year to U.S. $1.139 billion in January–September, as calculated under International Financial Reporting Standards (IFRS).

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Surgutneftegas	+8.41	43.55	13.597
Gazprom	+3.28	243.94	11.459
Lukoil	+2.91	6150.00	10.518
Sberbank	+1.34	242.78	9.730
Surgutneftegas pref	+0.51	39.50	4.467

(63.7997 rubles – U.S. $1)

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