Russian stocks rise in line with global stocks, oil prices

MOSCOW, Jun 22 (PRIME) -- Russian stocks grew on Friday supported by growing foreign bourses and climbing oil prices, analysts said.

The MOEX Russia Index firmed 0.17% to 2,249.68 and the RTS increased 1.32% to 1,125.41.

“We saw growth of the majority of the world stock indices … Russian stocks followed higher oil prices, and the MOEX Russia Index rose supported by shares of oil and gas companies,” Yevgenia Abramovich, head of the currency risks research department at Swiss brokerage house Dukascopy Bank S.A., said.

The Brent oil price gained 2.051% to U.S. $74.58 per barrel as of 5.55 p.m. Moscow time, according to the ICE exchange.

“Expectations of higher production were already priced in by the oil market, so the fact of elimination of uncertainty acted as a positive impact,” Anastasiya Sosnova, an analyst at investment company Freedom Finance, said.

Andrei Kochetkov, an analyst at Otkritie Broker, said that a possible meeting between leaders of the U.S. and Russia brings hopes for serious changes for Russian assets in the foreseeable future.

Shares of top bank Sberbank grew 1.92% prior to a dividend cut-off, Kochetkov said.

Shares of oil major Rosneft lost 0.50% as the market was not happy with the company’s profit forecasts, he added.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.92	214.43	14.362
MTS	-2.99	264.75	4.443
ALROSA	+0.51	98.50	4.275
Gazprom	+1.76	136.76	3.267
Lukoil	-0.24	4125.00	2.795

(63.7873 rubles – U.S. $1)

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