Russian stocks rise in line with foreign floors, crude prices
MOSCOW, Nov 6 (PRIME) -- The Russian stock market kept on advancing during the day on Wednesday thanks to positivity on the Western stock exchanges and rising crude prices, analysts said.
The MOEX Russia Index grew 1.06% to 2,980.84 and the RTS rose 0.74% to 1,471.38.
“The Russian stock market continued its upwards trend thanks to an external support. Local shares were backed by the situation on the global energy market with the Brent oil price breaking through a U.S. $63 per barrel mark,” senior analyst at Promsvyazbank Bogdan Zvarich said.
The domestic market was additionally encouraged by moderately positive dynamics of the Western floors, the expert added. The European benchmarks went up around 0.4% by the end of the day.
Power grid operator Rosseti, Magnitogorsk Iron and Steel Works (MMK) and preferred shares of oil pipeline monopoly Transneft were among the top performers, Zvarich also said.
Otkritie Broker analyst Andrei Kochetkov said that oil major Rosneft grew after it released an IFRS financial statement for January–September, marking a 25% rise in the net profit and a decrease in the net debt to EBITDA ratio to 1.4X.
Below are the MOEX Russia Index’s five most active stocks on Wednesday:
|Company||Change, %||Last price, rbl||Trading volume, bln rbl|
(63.2480 rubles – U.S. $1)