Russian stocks rise on corporate news, growing oil prices

MOSCOW, Jul 31 (PRIME) -- The Russian stock market increased on Monday amid corporate news about strong financial results and growing oil prices, analysts said.

The MOEX Russia Index rose 2.16% to 3,073.5 and the RTS increased 2.30% to 1,057.43.

“There are still favorable trends in the market for the further growth, in particular, the optimistic mood of investors connected with the reporting period. Moreover, today the Russian market was supported by oil. In particular, Brent today approached the level of U.S. $85 per barrel,” Yevgeny Linchik, head of managing company Pervaya’s department for alternative investment, said.

The optimistic corporate news supported the positive dynamics of the stock market, Natalya Milchakova, leading analyst at Freedom Finance Global, said.

“Today, purchases were additionally stimulated by the publication of rather good statistics on E.U. gross domestic product, which grew by 0.6% on the year in the second quarter, twice exceeding analysts' forecasts,” the analyst added.

M.Video shares showed the biggest drop on the market under pressure from the weak ruble.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+6.28	264.9	33.367
Lukoil	+1	5955	8.642
VTB Bank	+3.03	0.02584	5.913
Gazprom	+1.49	173.99	5.544
TMK	+12.16	208.02	3.464

(90.9783 rubles – U.S. $1)

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