Russian stocks rise on foreign markets, oil price increase

MOSCOW, Nov 22 (PRIME) -- The Russian stock market recovered after Monday’s fall as foreign markets and the price grew on Tuesday, analysts said.

The MOEX Russia Index grew by 1.37% to 2,196.04, and the RTS index increased by 1.81% to 1,142.58.

"The MOEX Russia index rose by 1% by the middle of the trading session recovering after yesterday's decrease… The broad local market had almost no internal drivers except some corporate stories," Finam analyst Ksenia Lapshina said.

Veles Capital analyst Yelena Kozhukhova said that the external background was moderately positive, as the Euro Stoxx 50 index grew by about 0.4% by the middle of the Russian session after the Organization for Economic Co-operation and Development (OECD) suddenly improved its forecast for the E.U. economic rise in 2022 and 2023 to 3.3% and 0.5% respectively.

The nearest Brent and WTI futures rose by about 0.5% from the support levels of U.S. $86.50 and $79.50 supported by a weakening U.S. dollar and denial of an output increase by the OPEC+ after a December meeting, according to the analyst.

The U.S. markets were moderately optimistic and the S&P 500 index futures added about 0.1%, as investors prepared to evaluate quarterly reports and statements by the Federal Reserve System. An improvement of the U.S. economy 2022 growth forecast by the OECD to 1.8% from 1.5% also affected the market positively, Kozhukhova said.

According to Lapshina, Irkutskenergo (not tradable security) was the second company after Detsky Mir to announce delisting plans. The issue will be considered at a meeting of the board of directors on Wednesday.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.96	135.75	5.413
Polyus	+4.62	6725	1.855
Norilsk Nickel	+1.06	14810	1.538
Gazprom	+0.1	168.29	1.457
Lukoil	+0.31	4620	1.252

(60.7379 rubles – U.S. $1)

End %%mk/jst%%