Russian stocks rise backed by high oil, optimism on global floors

MOSCOW, Jan 9 (PRIME) -- Russian stocks increased on Tuesday backed by rising oil prices and positive moods on foreign stock floors, analysts said.

The MOEX Russia Index rose 0.81% to 2,225.39 and the RTS increased 0.76% to 1,229.15.

“The first official working day in Russia was marked by a steady growth of stock indices, which react to optimism of foreign investors, stable high oil prices, as well as interest in risky assets in general,” InstaForex analyst Igor Kovalyov said.

Finam analyst Sergei Drozdov said the “Russian stock market is holding trading on the positive territory today, continuing to win back positive on foreign floors.”

Multi-industry holding Sistema’s shares grew 2.62%, as investors continue to win back the signing of an amicable agreement with oil major Rosneft, Kovalyov said.

Russian truck maker Kamaz fell 1.11% after reporting that its production grew 12% to 39,500 assembly kits in 2017. The pace of production growth was significantly higher at the beginning of last year, Otkritie Broker analyst Andrei Kochetkov said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.75	240.40	12.838
Gazprom	+2.1	140.00	7.341
Lukoil	+1.65	3628.50	3.088
Norilsk Nickel	+0.95	11675.00	2.866
Magnit	-1.84	6600.00	1.795

(57.6002 rubles – U.S. $1)

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