Russian stocks rise on hopeful news from Greece, China, higher oil

MOSCOW, Jul 10 (PRIME) --Russian stocks rose on Friday, supported by positive development of the situation in Greece, increase in the Chinese stock market, prolonged talks on Iranian nuclear program and rising oil prices, analysts said.

The MICEX rose 0.58% to 1,623.99 and the RTS increased 1.74% to 905.20.

“The main growth factor was the situation in Greece. Today the government of the country presented to lenders draft reforms in exchange for a 53 billion euro loan,” Igor Kovalyov, an analyst at InstaForex, said.

“The growth on the Chinese stock market which continued today also supported the increase. Oil also rose on the back of news about prolongation of terms of negotiations concerning Iran,” Vasily Tanurkov, deputy head of stock market analysis department at Veles Capital, said.

Stocks of retailer Magnit, which reported a 30% revenue increase for January–June on Thursday, rose 3.11% on Friday.

Top lender Sberbank rose 2.47% because of the ruble strengthening secured by rising oil, which managed to rebound to above $58 per barrel of Brent by the end of the trading session, and stabilization on Chinese and European trading floors, according to Timur Nigmatullin, an analyst at Finam.

The national currency rose to below 56.6 against the U.S. dollar by the end of the stock trading session.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+2.47	71.06	7.681
Gazprom	+0.09	143.90	2.878
Lukoil	-0.79	2465.00	2.326
Magnit	+3.11	11399.00	1.556
Surgutneftegas pref	-1.83	39.80	1.555

(56.9803 rubles – U.S. $1)

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