Russian stocks rise on corporate news, growth of global floors

MOSCOW, Feb 11 (PRIME) -- Russian stocks increased on Tuesday backed by positive dynamics of global floors and corporate news, analysts said.  

The MOEX Russia Index rose 1.15% to 3,097.58 and the RTS increased 2.37% to 1,539.56.

“On Tuesday, the Russian stock market managed to demonstrate recovery amid a positive foreign background and corporate news. Our shares were supported by the situation on the energy market, where the nearest futures for Brent crude oil could rise above U.S. $64 per barrel,” Promsvyazbank chief analyst Bogdan Zvarich said.

“Also, purchases were facilitated by the situation on the Western stock markets. In Europe, main indices were adding within 1.2% by the evening, while in the U.S., Dow Jones and S&P500 gained 0.3% and 0.5%, respectively, after first 30 minutes of trading.”

Gas giant Gazprom was among growth leaders, adding 3.86% on news coming from the company’s investor day in New York.

National top lender Sberbank added 0.89% on reports that the government will buy a controlling stake in the bank from the central bank at a market price using money from the National Wealth Fund.

Power holding Inter RAO rose 0.86% on reports that its net profit increased 5% to 21.787 billion rubles in 2019, as calculated under Russian Accounting Standards (RAS), and power output rose 1.7% to 130.203 billion kilowatt-hours.

Flagship carrier Aeroflot and Federal Grid Company of Unified Energy Systems (FGC UES) were among outsiders, losing 0.78% and 1.21%, respectively, Zvarich said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	+3.86	233.90	22.133
Sberbank	+0.89	254.50	20.382
Lukoil	-0.2	6397.50	8.245
Norilsk Nickel	+2.18	21910.00	4.055
Surgutneftegas	+3.26	47.725	3.987

(63.7708 rubles – U.S. $1)

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