Russian stocks rise on corporate news, ignore global negativity

MOSCOW, Jun 16 (PRIME) -- The Russian stock market edged up on Thursday thanks to local corporate events and despite a worsening external background, analysts said.

The MOEX Russia Index grew 2.19% to 2,369.75 and the RTS increased 2.84% to 1,316.75.

“The Russian stock market finished the trading day with a significant increase, supported by corporate stories and ignoring the negative external background… The ruble strengthened both against the U.S. dollar and the euro,” Veles Broker analyst Yelena Kozhukhova said.

Fertilizer producers Acron and PhosAgro were among the top gainers adding 14.53% and 6.28%, respectively, on high prices for fertilizers amid a global food crisis, she said.

Oil company Tatneft grew by 3.65% on dividend expectations with a dividend yield of above 4%.

Head of PSB Bank’s analysis group Vladimir Solovyov said that local energy stocks were supported by Deputy Prime Minister Alexander Novak’s statements that Russia’s energy exports system will be reshaped soon.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	+0.25	316.99	7.451
Sberbank	+2.14	123.73	5.865
Lukoil	+3.56	4261.5	4.597
Rosneft	+1.96	383	2.298
Novatek	+4.75	887.2	2.278

(56.6624 rubles – U.S. $1)

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