Russian stocks rise backed by oil prices, lack of negative news

MOSCOW, Sep 17 (PRIME) -- Russian stocks showed positive dynamics on Monday backed by growing oil prices and eased sanctions rhetoric amid a mixed foreign background, analysts said.

The MOEX Russia Index grew 0.57% to 2,373.75, and the RTS increased 0.44% to 1,099.50.

“The Russian stock indices started the week on a moderately optimistic note. The sanctions issue has calmed down, which allows investors to make purchases with support of oil prices and Russian regulators,” Veles Broker analyst Yelena Kozhukhova said.

“Trade confrontations may become one of the main risks over the next few days – this factor may cause sales both on the stock and commodities floors, as well as may put pressure on currencies of developing countries,” she said.

The ruble was stable against the dollar and depreciated against the euro.

Trading on the U.S. stock markets started with a decline of main indices, and neutral moods were seen on European stock floors.

Oil quotations were adding around 0.5% despite data about accelerated drilling activity in the U.S.

Aluminum giant UC RUSAL soared 14.73% after the U.S. Treasury said it would allow customers to negotiate some new contracts with the company.

Fertilizer maker Uralkali was among growth leaders jumping 8.11% without any news drivers.  

Gas giant Gazprom added 2.18% after reporting that its gas output grew 7.3% on the year to 344.4 billion cubic meters from January 1 through September 15, and exports to non-CIS states increased 5.8% to 141.3 billion cubic meters.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.32	188.11	12.657
Gazprom	+2.18	155.46	5.218
Lukoil	+0.59	4631.00	2.097
Magnit	+0.53	4185.00	1.406
Norilsk Nickel	+0.13	11540.00	1.339

(68.2826 rubles – U.S. $1)

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