Russian stocks rise backed by oil prices, Fitch upgrade

MOSCOW, Aug 12 (PRIME) -- Russian stocks moderately grew on Monday supported by an increase of Russia’s rating by Fitch and rising oil prices, analysts said.

The MOEX Russia Index rose 0.38% to 2,689.93 and the RTS increased 0.36% to 1,294.12.

“The MOEX Russia Index and the RTS Index remained in plus by the end of trading on Monday despite some deterioration of the global sentiment,” Veles Capital analyst Yelena Kozhukhova said. “An increase of Russia’s credit rating by Fitch agency played an important role in the growth,” she said.

Trading on the U.S. stock floors opened with a decline of three main indices, which fell by around 1% by the end of trading in Russia. Trading in Europe was also on a moderately pessimistic note.

Oil quotations were adding less than 0.5% by the evening after a moderate decline at the beginning of the day.

Precious metals producer Polymetal and coal producer Raspadskaya were among growth leaders, adding 2.12% and 1.68%, respectively. Power grid holding Rosseti and oil and gas pipe maker TMK were among outsiders, losing 2.96% and 1.76%, respectively.

Oil major Lukoil added 0.62% after reporting that its output grew 1.3% to 43.37 million tonnes in January–June.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.74	222.30	6.377
Lukoil	+0.62	5320.00	3.836
Gazprom	+0.12	230.24	3.676
Norilsk Nickel	+1.51	15024.00	2.728
Rosneft	-0.54	402.40	1.430

(65.2543 rubles – U.S. $1)

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