Russian stocks rise in line with oil, ruble, foreign floors

MOSCOW, Aug 24 (PRIME) -- Russian stocks increased on Friday backed by growing oil prices, a stronger ruble, and positive moods on foreign floors, analysts said.

The MOEX Russia Index rose 0.87% to 2,279.76 and the RTS increased 1.96% to 1,064.46.

“By the middle of trading day on Friday, Russian stock indices entered the positive territory after mixed dynamics during the session,” Veles Broker analyst Yelena Kozhukhova said.

The ruble strengthened against the dollar and euro, having received support from oil price growth and an absence of currency purchases by the central bank.

The foreign background was positive. Trading in Europe was on optimistic note.

“Russian stock indices managed to enter positive territory in the first half of the day and maintain above the local lows… No large-scale sales followed the announcement of the sanctions date, but the market is on the verge – investors still do not lose hope even for a short-term upward correction,” Kozhukhova said.

Uncut diamond giant ALROSA was among growth leaders, adding 3.32% after reporting that its net profit rose 19% on the year to 58.262 billion rubles in January–June, as calculated under International Financial Reporting Standards (IFRS).

Gold producer Polyus grew 3.24% after its board of directors recommended paying 131.11 rubles per share in dividends for January–June.

Coal producer Raspadskaya added 0.19% on reports that its IFRS net profit rose 34% on the year to U.S. $225 million in January–June.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.94	180.39	23.458
Lukoil	+1.13	4500.50	2.829
Gazprom	+1.48	143.60	2.717
ALROSA	+3.32	96.50	2.149
Sberbank pref	+0.76	157.85	1.753

(68.5259 rubles – U.S. $1)

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