Russian stocks rise on corporate news, growing ruble

MOSCOW, Jul 7 (PRIME) -- The Russian stock market increased on Wednesday on some corporate stories and growing ruble rate, analysts said.

The MOEX Russia Index rose 0.46% to 2,832.51 and the RTS increased 0.53% to 976.08.

“By the end of Friday's trading, the Russian stock market was in a moderate plus, thanks to purchases of certain issuers and a halt in the devaluation of the ruble,” Veles Broker analyst Yelena Kozhukhova said.

The analyst also said that the ruble changed by 0.1–1.4% against the dollar, euro and yuan in the evening, being at 91 rubles, 99.60 rubles and 12.60 rubles respectively, refraining today from reaching the local lows.

“Optimistic forecasts of Russian companies for 2023, the approaching record dates for dividends, as well as the rebound of the ruble after several days of decline and higher prices for raw materials gave positive impulses to quotations,” Freedom Finance Global’s Senior Analyst Natalya Milchakova said.

Brent oil rose by 1.22% to U.S. $77.44 per barrel probably on the start of production cuts in Saudi Arabia, she also said.

Etalon Group’s shares outperformed the market rising 5.88% after the registration of the developer's global depositary receipts prospectus by the central bank.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Lukoil	+1.37	5420	6.157
Sberbank	+0.49	242.14	5.083
Novatek	+1.58	1385.4	1.732
Magnit	+0.56	5318.5	1.646
Rosneft	+1.12	482.1	1.473

(92.5695 rubles – U.S. $1)

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