Russian stocks rise backed by positive corporate news, oil price

MOSCOW, Nov 1 (PRIME) -- The Russian stock market edged up on Tuesday thanks to local companies’ positive financial results and rising crude prices, analysts said.

The MOEX Russia Index grew 0.36% to 2,174.35 and the RTS increased 0.59% to 1,118.19.

“The Russian stock market demonstrated moderately positive dynamics… Global uncertainty ahead of the U.S. Federal Reserve’s key rate decision following a meeting scheduled for November 2 prevented the Russian stock exchanges from more active growth,” Freedom Finance Global’s Senior Analyst Natalya Milchakova said.

The Russian market was supported by encouraging financial reports, issued by local companies, and expectations of significant dividend payments by large corporations, she added.

Milchakova said that the Brent oil price added 2.07% to U.S. $94.7 per barrel thanks to mass media reports that coronavirus lockdowns can soon be lifted in China. The gold price increased by 0.45% to $1,648 per troy ounce.

Managing company Pervaya analyst Dmitry Postolenko said that the electrical power and petrochemistry sectors were among the top gainers on the Moscow Exchange, and the construction and consumer sectors demonstrated losses.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.3	127.1	4.336
Gazprom	-0.16	170	2.650
Lukoil	-0.2	4686	1.360
TCS Group	-0.76	2600	1.349
Yandex	+1.72	2145.2	1.163

(61.6229 rubles – U.S. $1)

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