Russian stocks rise on favorable environment, oil prices

MOSCOW, Feb 20 (PRIME) -- The Russian stock ended Monday’s trading session higher as the external background and oil prices provided support to the national shares, analysts said.

The MOEX Russia Index rose 0.68% to 2,183.57 and the RTS increased 0.14% to 921.51.

“The news flow on the global markets improved slightly over the weekend, and the Asian and European indices showed mostly positive dynamics today. The U.S. bourses were closed, no trading was held across the ocean,” Finam analyst Kseniya Lapshina said.

Freedom Finance Global analyst Natalya Milchakova said that the Russian shares fell at the start of trading, but rose later.

“Investors still have no information which companies will pay a one-time tax on excessive profits, or the so-called voluntary contribution to the budget,” she said.

The only definite thing now is that the oil companies will be exempt, she said.

Otkritie Research leading analyst for global research Andrei Kochetkov said the lack of the U.S. news flow made the oil market focus on facts. The car traffic in China almost recovered to the pre-COVID level, and further recovery could lead to new records in China’s oil imports. Fuel consumption in India is also rising. Demand for oil will continue growing while consumption either falls or increases unevenly, and Goldman Sachs insists that the Brent oil price may return to U.S. $100 per barrel, he said.

The Brent oil price gained 0.892% to $83.74 per barrel as of 6.39 p.m. Moscow time, according to the ICE exchange.

Promsvyazbank senior analyst Yegor Zhilnikov said that the receipts of TCS Group, which unites Tinkoff Bank and Tinkoff Insurance, fell by 0.28% to 2,476 rubles as the E.U. is to include the company in its next round of sanctions.

Milchakova said that the shares of gold producer Lenzoloto received support from high oil prices and grew by 12.61% to 15,990 rubles.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.29	160.20	8.356
Polyus	+2.85	8914.00	4.799
Lenzoloto	+12.61	15990.00	2.189
Gazprom	+0.31	154.10	2.075
Lukoil	+1.74	3907.00	1.561

(74.7588 rubles – U.S. $1)

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