Russian stocks rise on growing oil prices, stronger ruble

MOSCOW, Apr 13 (PRIME) -- Russian stocks increased Monday backed by growing oil prices and strengthening of the ruble, analysts said.

The MICEX rose 1.28% to 1,678.19 and RTS grew 0.52% to 1,004.62.

“A positive dynamics remains on the Russian market in the second half of the day. This is to a large extent stipulated by a sharp increase of the oil price – now the Brent oil is traded at almost U.S. $59 per barrel, while earlier quotations even reached the level of $60,” InstaForex analyst Anton Fomin said.

The oil price is supported by geopolitical factors, including a growth of geopolitical risks in the Middle East. “If military actions break out in Saudi Arabia, the Brent oil price could reach the level of $70 per barrel within several days,” IT Invest analyst Vasily Oleinik said.

Mineral fertilizer producer Acron closed 2.2% higher despite publication of a 47.4% decline in net profit to 6.904 billion rubles in 2014, as calculated under International Financial Reporting Standards.

Below are the MICEX’ five most active stocks on Monday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+3.64	74.10	12.119
Gazprom	+0.54	148.80	5.203
Norilsk Nickel	-0.98	9839.00	3.691
Lukoil	-0.68	2617.00	3.298
Magnit	+5.03	12300.00	2.161

(51.0678 rubles – U.S. $1)

End