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Russian stocks rise on growing oil, hopes for US sanctions ease

MOSCOW, Jul 23 (PRIME) -- Russian stocks increased on Monday backed by growing oil prices and hopes for a removal of the U.S. sanctions from aluminum producer UC RUSAL, analysts said.

The MOEX Russia Index rose 0.60% to 2,261.25 and the RTS increased 1.38% to 1,129.92.

УThe MOEX Russia Index and the RTS Index remained on the positive territory by the end of trading on Monday, but moved from the highs of the day,Ф Veles Broker analyst Yelena Kozhukhova said. The ruble appreciated against the dollar and euro, she added.

УMoods (on the Russian stocks market) were supported by news about S&P confirming RussiaТs ratings, as well as hopes for an abolishment of the U.S. sanctions against Russian companies,Ф Kozhukhova said.

Trading in the U.S. opened with a decline of main indices, and moderately pessimistic moods prevailed on European floors, she said.

Oil prices were gaining less than 1% receiving support from uncertainties around Iran and a decreased number of drilling units in the U.S.

RUSAL jumped 7.91% on the news that the U.S. expects to find an acceptable solution to remove sanctions from the company.

National top lender Sberbank was among growth leaders, with common and preferred shares gaining 2% and 3.07%, respectively, in correction after a recent large-scale decline.

Uncut diamond giant ALROSA lost 0.42% after reporting that its diamond production shrank 18% on the year to 8.5 million carats in AprilЦJune.

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

Company Change, % Last price, rbl Trading volume, bln rbl
Sberbank +2 208.42 11.542
Gazprom +1.39 138.37 2.477
Lukoil +0.93 4340.00 1.913
Norilsk Nickel +0.58 10314.00 1.027
ALROSA -0.42 95.90 0.968

(63.4888 rubles Ц U.S. $1)

End

23.07.2018 19:34
 
 
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