MOSCOW, Apr 17 (PRIME) -- Russian stocks grew on Wednesday supported by a favorable external background, including positive economic data coming from China and high oil prices, analysts said.
The MOEX Russia Index rose 0.33% to 2,568.26 and the RTS increased 0.80% to 1,265.51.
“The national market grew again using the calm and partially optimistic external background. The Chinese economy demonstrated growth of 6.4% in annual terms, which prompted many analysts to say that a tough period of economic slowdown is over,” Andrei Kochetkov, Otkritie Broker’s analyst, said.
“Of all the external factors, only the situation at the European floors supported purchases in our assets, as the major European indices grew by 0.7% in the evening. At the same time, the Dow Jones and the S&P500 indices in the U.S. fell by 0.1% in the first hours of the trade,” Bogdan Zvarich, senior analyst at Promsvyazbank, said.
Dmitry Babin, stock market expert at BCS Broker, said that growth of the Russian market was somewhat curbed by the oil price as it lost its positions in the evening after trying to stay above U.S. $72 for the major part of the day.
Kochetkov also said that shares of oil major Rosneft grew 0.31% to 436.50 rubles as investors priced in a dividend yield that rose to 8–9% this year.
Gaidar Gasanov, an expert at consulting company International Financial Center, said that an oil price of around $72 per barrel supports trade in Russian oil and gas companies, with gas giant Gazprom rising 1.08% to 164 rubles and oil companies Gazprom Neft gaining 0.32% to 349.45 rubles and Tatneft 0.63% to 751.60 rubles.
Below are the MOEX Russia Index’ five most active stocks on Wednesday:
| Company | Change, % | Last price, rbl | Trading volume, bln rbl |
|---|---|---|---|
| Sberbank | +0.45 | 234.30 | 16.427 |
| Gazprom | +1.08 | 164.00 | 4.669 |
| Lukoil | -0.45 | 5584.00 | 3.662 |
| Rosneft | +0.31 | 436.50 | 1.564 |
| Norilsk Nickel | +0.29 | 14600.00 | 1.313 |
(64.2422 rubles – U.S. $1)
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