Russian stocks rise on cbank’s decision to raise key rate

MOSCOW, Sep 15 (PRIME) -- The Russian stock market increased on Friday as the central bank decided to raise the key rate by 1 percentage point to 13% and the ruble, analysts said.

The MOEX Russia Index rose 0.42% to 3,152.53 and the RTS increased 1.06% to 1,029.15.

“The MOEX Russia Index changed its movement sharply after the central bank’s rate decision, ending the day with growth. The central bank raised the rate by 100 basis points to 13%, but the regulator's rhetoric in the press release was neutral, which, we believe, caused a wave of buying on the Russian stock market,” Alexei Golovinov, chief analyst at PSB Bank, said.

Almost all securities managed to grow at the end of the day, the analyst also said.

The most modest dynamics was shown by VK securities as after September 18 the Moscow Exchange will temporarily suspend trading in the shares due to the redomiciliation to Russia from the British Virgin Islands, he added.

“The Russian stock market on Friday by the end of the main trading was in a restrained plus, with moderate optimism reacting to the key rate increase of the central bank from 12% to 13%,” Veles Capital’s analyst Yelena Kozhukhova said.

ALROSA shares decreased by 0.99% by the end of the session.

According to Kozhukhova, the pressure on ALROSA shares was caused by negative sanctions news regarding Russian diamond sector. In the coming weeks the G7 countries intend to agree on a ban on imports of Russian diamonds and purchases of diamonds from ALROSA, she added.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.34	260.89	8.687
Lukoil	+0.65	6,561.5	7.334
Transneft	+0.96	147,700	4.593
UWC	+23.53	117.6	4.501
Rusolovo	+10.52	1.621	3.345

(96.1609 rubles – U.S. $1)

End