MOSCOW, Nov 27 (PRIME) -- Russian stocks increased on Tuesday as geopolitical tensions connected with Ukraine eased and oil prices resumed growth, analysts said.
The MOEX Russia Index rose 1.31% to 2,338.71 and the RTS increased 1.33% to 1,098.59.
“On Tuesday, the Russian stock market managed to win back part of losses suffered a day earlier on the back of increased geopolitical risks. An absence of further growth of tensions and an increase in the sanctions rhetoric became the reasons for taking profit on speculative short positions,” Promsvyazbank chief analyst Bogdan Zvarich said.
“Our assets were also supported by the energy market, where Brent oil is taking another attempt to push off from the level of U.S. $60 (per barrel) and continue recovery,” he added.
Freedom Finance analyst Anastasia Sosnova said “the Russian stock market is restoring after yesterday’s decline amid an absence of signs of escalation of the Russian–Ukrainian conflict due to the incident in the Kerch Strait.”
Veles Broker analyst Yelena Kozhukhova said the ruble strengthened against the dollar and euro correcting after Monday’s fall.
Metals and mining group Mechel’s common shares lost 2.37% and preferred shares added 1.36% after the company said its coal production fell 8% to 14.472 million tonnes in January–September and forecast for 2018 was reduced to 19.5–20 million tonnes, while net profit under International Financial Reporting Standards (IFRS) fell 1% on the year to 10.997 billion rubles.
Multi-industry holding Sistema decreased 1.22% on reports that the company’s IFRS net profit shrank 69.4% on the year to 1.6 billion rubles in July–September.
Metals giant Norilsk Nickel and oil major Rosneft were among growth leaders, adding 3.51% and 3.14%, respectively.
Below are the MOEX Russia Index’s five most active stocks on Tuesday:
| Company | Change, % | Last price, rbl | Trading volume, bln rbl |
|---|---|---|---|
| Sberbank | +1.34 | 191.03 | 16.720 |
| Lukoil | +1.43 | 4689.00 | 4.838 |
| Norilsk Nickel | +3.51 | 11955.00 | 3.177 |
| Gazprom | +2.86 | 153.80 | 3.055 |
| Rosneft | +3.14 | 419.80 | 1.514 |
End
|
|
