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Russian stocks rise on corporate stories, resumed oil price growth

MOSCOW, Feb 22 (PRIME) -- Russian stocks increased on Thursday receiving support from corporate stories and resumed oil price growth, analysts said.

The MOEX Russia Index rose 0.71% to 2,336.82 and the RTS increased 0.76% to 1,301.01.

УOn Thursday, the last day of a short trading week, the Russian stock market managed to continue upward dynamics and renew historic highs supported by the foreign background,Ф Freedom Finance senior analyst Bogdan Zvarich said.

Oil prices were losing around 0.1Ц0.4% in expectation of publication of the Energy MinistryТs data on oil reserves, but resumed growth over U.S. $65 per barrel by the end of the trading day.†

Veles Broker analyst Yelena Kozhukhova said that Уdespite a mixed foreign background, the market receives support both from corporate stories and expectations of a possible upgrade of RussiaТs rating by S&P agency to investment rating.Ф A decision on the rating will be made on Friday, when Russian stock floors will be closed for a public holiday.

Retailer MagnitТs shares jumped 7.24% showing growth for a third consecutive day after a long decline.

VTB Bank soared 5.83% in expectation of a strong report under International Financial Reporting Standards (IFRS) to be released next week.

Novorossiysk Commercial Sea PortТs (NCSP) lost 1.29% as the Federal Antimonopoly Service allowed an affiliate of oil pipeline monopoly Transneft to acquire a 50.1% voting stake in the company.

The Federal Grid Company of Unified Energy System (FGC UES) fell 1.52% after reporting that its net profit plummeted 60% to 42.362 billion rubles in 2017, as calculated under Russian Accounting Standards.

Below are the MOEX Russia IndexТs five most active stocks on Thursday:

Company Change, % Last price, rbl Trading volume, bln rbl
Sberbank -0.61 277.49 14.072
Magnit +7.24 5140.00 9.813
Gazprom +1.37 145.97 4.315
VTB +5.83 0.05175 3.646
Lukoil +0.72 3836.00 2.947

(56.6537 rubles Ц U.S. $1)

End

22.02.2018 19:20
 
 
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