Russian stocks rise on Greek reforms-for-aid deal, weak ruble

MOSCOW, Jul 13 (PRIME) --The Russian stocks rose on Monday supported by progress in Greek debt talks, while a weak ruble backed stocks of exporters, analysts said.

The MICEX rose 1.17% to 1,642.97 and the RTS increased 1.13% to 915.47.

“News that Greece will remain in the Eurozone and will receive more financial aid from a group of its lenders was favored by the Russian market,” Vitaly Manzhos, senior analyst at Bank Obrazovanie, said.

Investors only paid attention to the foreign background and there was a lack of corporate events in thin trade, Sofya Kirsanova, analyst at Raiffeisen Capital, said.

Stocks of Russian mineral companies, which include the country’s largest exporters, were supported by a weakening ruble, Timur Nigmatullin, analyst at Finam, said.

Metallurgical companies were supported by China’s foreign trade figures showing that imports fell less than expected, Anton Startsev, analyst at Olma, said.

Magnitogorsk Iron and Steel Works (MMK) rose 4.19% to 16.878 rubles, while Novolipetsk Steel (NLMK) added 3.11% to 78.83 rubles.

Oil exporter Lukoil fell 1.19% to 2,453.6 rubles due to a dividend cut-off, Geogry Vashchenko, director for Russian stock market at Freedom Finance, said.

Below are the MICEX’ five most active stocks on Monday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+2.56	72.94	16.717
Gazprom	+0.95	145.27	3.438
Lukoil	-1.19%	2435.60	2.318
Norilsk Nickel	+3.29	9366.00	2.270
Surgutneftegas pref	-1.01	39.40	2.040

(56.6685 rubles – U.S. $1)

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