Russian stocks rise on better background, oil price rebound

MOSCOW, Oct 10 (PRIME) -- Russian stocks increased on Thursday backed by the improvement of the foreign background and an oil price rebound, analysts said.

The MOEX Russia Index grew 0.31% to 2,721.51 and the RTS rose 1.02% to 1,330.92.

“The MOEX Russia Index and the RTS Index went into plus by the end of trading on Thursday amid the improvement of the foreign background,” Veles Capital analyst Yelena Kozhukhova said.

Trading on the U.S. stock floors opened without single dynamics of three main indices, which were adding around 0.8% by the end of the trading session in Russia. The main attention of investors was paid to the resumption of trade negotiations. Trading in Europe was on an optimistic note.

Oil prices resumed growth by the evening and were adding over 1% thanks to the improvement of the foreign background and hopes that the U.S. and China will strike a trade agreement.

Power producers Wholesale Generating Company-2 (WGC-2) and Inter RAO were among growth leaders, rising by 6.23% and 1.64%, respectively.

Real estate developer PIK Group was among outsiders, losing 11.17% after minority shareholder Firlibia Holdings Limited sold 14.2 million shares in the company with a discount to the market.

Oil major Rosneft decreased 2.88%. 

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.35	228.50	7.203
Gazprom	+0.59	224.50	3.285
Lukoil	+0.27	5318.50	2.194
Rosneft	-2.88	409.00	2.079
Norilsk Nickel	+0.22	16140.00	1.851

(65.0976 rubles – U.S. $1)

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