Russian stocks rise on corporate stories, positive expectations

MOSCOW, Oct 8 (PRIME) -- The Russian stock market edged up on Friday as it received support from local corporate stories, external support from some rising foreign bourses, and high oil prices, analysts said.

The MOEX Russia Index rose 0.24% to 4,238.00 and the RTS increased 0.38% to 1,860.96.

“The Russian stock indices tried to stay in the green zone receiving support from corporate stories," Veles Capital’s analyst Yelena Kozhukhova said.

The external background was also moderately positive, as the Brent oil price gained about 1%, while futures for the U.S. stock indices also firmed while investors were waiting for the release of the U.S. employment statistics, Kozhukhova said.

Yevgeny Linchik, head of the department of share management at Sber Asset Management, said that optimism prevailed at the end of the week on the international stock floors and on the Russian market as well.

“The optimistic mood at international floors was supported by a possible online meeting of U.S. President Joe Biden and Chinese President Xi Jinping. Dynamics of the Asian floors were supported by data from China, which outperformed expectations. The Caixin purchasing managers’ index for September amounted to 53.4,” Linchik said.

Kozhukhova also said that fertilizer producer Acron grew by 3.04% to 8,418 rubles in spite of a dividend cut-off due to high prices for fertilizers.

Shares of gold mining holding Seligdar jumped by 14.72% to 55.41 rubles on the news that Beloye Zoloto, the company’s joint venture with state industrial corporation Rostec, won an auction for Russia’s largest gold field Kyuchus. The acquisition improves Seligdar’s investment attractiveness, she said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	-1.03	366.90	23.608
Sberbank	+0.96	372.49	10.834
Norilsk Nickel	+1.38	22580.00	7.608
Lukoil	+0.94	7232.50	6.282
Rosneft	-2.27	633.25	4.824

(72.2854 rubles – U.S. $1)

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