Russian stocks rise on higher oil, gas, positive backdrop abroad

MOSCOW, Jul 15 (PRIME) -- The Russian stock market managed to finish the week with growth thanks to a recovery of the oil and gas sector and positive moods on the U.S. and European bourses, analysts said.

The MOEX Russia Index increased by 2.24% to 2,109.52, and the RTS index grew by 4.27% to 1,161.53.

“The bears dominated the Russian stock market this week, however on the last day the MOEX Russia Index managed to go back to 2,100. The growth was secured by a recovery of the oil and gas sector on the back of the Brent quotations’ rebound because of a fruitless visit of the U.S. President Joe Biden to Saudi Arabia,” Yegor Zhilnikov, senior analyst at Promsvyazbank, said.

Zhilnikov also added that “the Friday factor” also contributed to the local market’s growth as investors took to closing their short positions.

Veles Broker analyst Yelena Kozhukhova said that the Russian stock market finished the trading session with quite a confident increase thanks to improved sentiments abroad and corporate stories.

The common shares of Bank Saint Petersburg was the session’s growth leader, rising 16.53%, after its board of directors recommended paying 11.81 rubles per common share in dividends for January–June. The record date is January 29.

Acron grew 7.73% and PhosAgro gained 2.56%, which can be attributed to recent news that the U.S. decided to ease some sanctions against Russia, including those on transactions with Russian fertilizers, Kozhukhova said.

The U.S. and European trading floors demonstrated positive sentiment, with the U.S. main stock indices rising 1.2–1.9% before Russia’s closing and the Euro Stoxx 50 gaining 2%. The next futures on Brent and WTI also sped up their increase and added about 2.5% to U.S. $103 per barrel and $98.50 per barrel, respectively, by the evening.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+2.38	128.90	5.725
Gazprom	+1.66	187.61	4.297
Lukoil	+2.80	3709	1.683
Rosneft	+4.77	330.50	1.243
Norilsk Nickel	+1.95	15600	1.173

(58.2568 rubles – U.S. $1)

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