Russian stocks rise in expectation of US–China trade deal

MOSCOW, Sep 26 (PRIME) -- Russian stocks closed higher on Thursday on prospects of a trade deal between the U.S. and China and optimistic moods on European floors, while ignoring falling oil prices, analysts said.  

The MOEX Russia Index rose 0.45% to 2,772.70 and the RTS Index grew 0.41% to 1,359.59.

“After a slight interruption at the beginning of the day, the domestic market headed for growth. The optimism of buyers is supported by statements by (U.S. President) Donald Trump about the possibility of concluding a trade deal with China sooner than expected,” Otkritie Broker analyst Andrei Kochetkov said.   

Trading on the U.S. stock floors started without single dynamics of three main indices, which were losing 0.3–0.7% by the end of the Russian session, while trading in Europe was on a moderately optimistic note, Veles Capital analyst Yelena Kozhukhova said.

Oil prices accelerated the pace of decline by the evening, losing around 1.5% amid concerns about a slowdown in global demand for oil.  

Power grid holding Rosseti and real estate developer PIK Group were among growth leaders, adding 3.01% and 2.58%, respectively.

Common and preferred shares of oil company Tatneft lost 4.74% and 5.26% after a dividend gap.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	+1.55	231.97	9.372
Sberbank	+0.44	229.09	7.512
Lukoil	+0.82	5387.50	3.324
Norilsk Nickel	+0.71	16388.00	1.810
VTB	+1.47	0.4292	1.448

(64.1873 rubles – U.S. $1)

End