Russian stocks rise following oil price, global positivity

MOSCOW, Jun 9 (PRIME) -- The Russian stock market advanced on Wednesday thanks to a moderately positive external background with oil prices seen at the level of April–May 2019, analysts said.

The MOEX Russia Index grew 0.94% to 3,843.28 and the RTS increased 1.10% to 1,674.75.

“The MOEX Russia and the RTS indices demonstrated more confident growth in the second half of the day on Wednesday. The U.S. dollar-denominated benchmark reached 1,670, a new high since April 2021, and the ruble-denominated index was seen just below a record high of 3,837,” Veles Broker analyst Yelena Kozhukhova said.

The sentiment on the world’s stock exchanges was moderately optimistic, which is likely to persist on Thursday, she added.

Artyom Tuzov, executive director of the capital market department at investment company Univer Capital, said that the Brent oil price consolidated above U.S. $72.50 per barrel, the level of April–May 2019.

Kozhukhova said that national flagship air carries Aeroflot added significant 2.89% with high trade volumes and without obvious fundamental reasons. Investors seem to be returning to the stock ahead of the summer tourist season.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	315.51	+0.22	7.430
Gazprom	276.19	+0.3	7.194
Norilsk Nickel	26464	+1.5	6.470
Lukoil	6571.5	+1.03	5.827
Rosneft	549.5	-0.14	3.849

(72.8256 rubles – U.S. $1)

End