Russian stocks rise on corporate news, oil price growth

MOSCOW, Nov 13 (PRIME) -- The Russian stock market grew on Monday because the national shares were supported by the positive flow of corporate news and by a switch of the oil prices to growth on an OPEC oil market report, analysts said.

The MOEX Russia Index rose by 0.19% to 3,248.27 and the RTS increased by 0.90% to 1,117.43.

“The Russian stock market stayed in the green zone for the entire day on Monday … Good financial performance of the Russian issuers, media reports about payments of interim dividends by large corporations, and the restart of the oil price growth supported growth of the Russian stock market,” Freedom Finance Global leading analyst Natalya Milchakova said.

OPEC accused speculators of a recent oil price fall, and coupled with the optimistic figures of the report, prompted the Brent oil price growth, Milchakova said.

“The foreign stock floors showed no unison in dynamics, but many risky assets tried to grow from the local lows aiming for the Christmas rally in spite of the gloomy forecasts of economic prospects for the next few months,” Veles Capital’s analyst Yelena Kozhukhova said.

The external background was moderately positive with the European markets rising following signals from the U.S. The Brent oil price edged up from the resistance level of U.S. $81.40 per barrel. Also, she said that purchases in some shares added to the index.

The shares of coal producer Raspadskaya gained 6.90% to 396 rubles in what could be a reaction to the previous rally in the shares of metals and mining group Mechel, Kozhukhova said.

Telecom giant Rostelecom increased by 3.96% to 81.45 rubles as investors still priced in the recent dividend recommendation for 2022, while mobile operator MTS and online marketplace Ozon rose by 1.26% and 0.79%, respectively, prior to Thursday’s release of financial reports for July–September, she said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Mechel	-1.18	316.62	12.565
Sberbank	+1.20	283.54	11.409
Moscow Exchange	-2.97	204.84	3.221
Lukoil	+0.12	7297.50	2.872
Raspadskaya	+6.90	396.00	2.812

(92.0535 rubles – U.S. $1)

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