Russian stocks rise due to oil price growth, ruble stabilization

MOSCOW, Oct 6 (PRIME) -- The Russian stock market closed higher on Tuesday thanks to a favorable global background and investors’ persisting risk appetite, analysts said.

The MOEX Russia Index grew 0.38% to 2,892.99 and the RTS rose 0.92% to 1,168.56.

“The Russian stock market was consolidating in the positive territory by the end of the trading session thanks to favorable external factors, a rise in some shares and stabilization of the ruble… Investors remained interested in risk assets, but the purchases were cautious on most markets,” Veles Broker analyst Yelena Kozhukhova said.

European bourses traded moderately higher, and the nearest Brent oil futures added 2.5–3% by the evening due to a weak U.S. dollar, another hurricane in the Gulf of Mexico and crude supply outages in Norway, she added.

Otkritie Broker analyst Andrei Kochetkov said that precious metals producers Polymetal International and Polyus were among the biggest losers falling 2.52% and 2.56%.

Mining companies ALROSA and Mechel outperformed the market significantly, rising 3.9% and 3.74%.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.59	212.21	17.092
Gazprom	+1.2	172.68	10.252
Norilsk Nickel	-2.28	18842	6.334
Lukoil	+0.95	4251.5	4.548
Yandex	-0.62	4949.2	3.595

(78.1281 rubles – U.S. $1)

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