Russian stocks rise despite negative foreign moods, falling oil

MOSCOW, Sep 10 (PRIME) -- Russian stocks managed to close higher on Thursday despite a negative sentiment on global floors and falling oil prices, analysts said.

The MOEX Russia Index rose 0.75% to 2,897.55 and the RTS increased 1.27% to 1,216.59.

“On Thursday, the Russian stock market managed to move to recovery despite a moderately negative external background,” Promsvyazbank chief analyst Bogdan Zvarich said.

“The main factor of pressure on our shares could be the situation on the energy market, where the activation of sales led to the retreat of the nearest futures for Brent crude oil to the region of U.S. $40.6 per barrel,” he said.

“At the same time, the situation on the Western stock markets also did not add optimism to our players. In Europe, the main indices lost within 0.3% by the evening, and in the U.S., during the first hours of trading, the Dow Jones and S&P500 indices consolidated at the levels of the previous close,” Zvarich added.

Diamond giant ALROSA and aluminum giant UC RUSAL were among growth leaders, adding 4.19% and 3.23%, respectively.

Gas producer Novatek and Magnitogorsk Iron and Steel Works (MMK) were among outsiders, both losing 1.01%.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.78	221.88	14.710
Yandex	-1.03	4694.60	6.842
Gazprom	+0.33	174.27	5.521
Lukoil	-0.79	4672.00	4.772
Norilsk Nickel	+0.18	19744.00	4.302

(76.0713 rubles – U.S. $1)

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