Russian stocks rise in line with global floors, oil prices

MOSCOW, Nov 3 (PRIME) -- Russian stocks increased on Tuesday backed by optimism on foreign floors and rising oil prices, analysts said.

The MOEX Russia Index grew 1.79% to 2,786.42 and the RTS increased 3.63% to 1,108.15.

“The MOEX Russia Index and the RTS remained in a steady plus by the end of trading along with foreign risky assets,” Veles Capital analyst Yelena Kozhukhova said.

The foreign background was positive. Trading in the U.S. started with growth of three main indices, which accelerated growth by the end of the Russian session and were adding 2.1–2.5%. Positive moods were seen on European floors as well.

The nearest futures for Brent and WTI oil were adding 3–3.5% as investors were charged with optimism after talks about a possible extension of the current levels of OPEC+ oil production cuts in the first quarter of 2021.

Oil major Rosneft was among growth leaders, adding 4.51% in line with oil quotations. Flagship carrier Aeroflot rose 3.47% and Magnitogorsk Iron and Steel Works (MMK) increased 2.66%.

Power producer Territorial Generating Company-1 (TGC-1) was among outsiders, losing 2.4%. Retailer Magnit fell 1.45% and power grid holding Rosseti decreased 0.6%.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+2.67	209.96	16.642
Gazprom	+1.81	160.59	10.675
Norilsk Nickel	+0.65	19460.00	6.200
Lukoil	+1.74	4234.50	6.130
Yandex	+0.16	4596.60	3.561

(80.5749 rubles – U.S. $1)

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