Russian stocks rise on interest to risky assets, oil price growth

MOSCOW, Nov 12 (PRIME) – The Russian stocks grew on Thursday on interest of global investors to risky assets and higher oil prices, analysts said.

The MOEX Russia Index rose 0.36% to 3,025.83 and the RTS increased 0.38% to 1,238.45.

“The background was largely neutral for the Russian market today. The U.S. indices started the session with a sideways movement on good labor data, while Europe lost up to 1.5% as the market took profit after growth of the previous days. The trigger for that was weak industrial output data for the Eurozone in September, and contraction of GDP in the U.K. by 9.6% in annual terms,” Valery Yemelyanov, analyst at Freedom Finance, said.

The MSCI Emerging Markets index grew by 0.6% pointing to the interest of global players in risky assets, Yemelyanov said.

Veles Capital analyst Yelena Kozhukhova said that the oil market provided a positive impact on the market mood.

“The growth of the closest futures for the Brent and WTI blends sped up to gain over 1.5% in the evening … on expectations of a report of the U.S. Energy Department, which would likely show contraction of reserves of oil and oil products,” Kozhukhova said, adding that investors also hope that OPEC+ maintains the current conditions of its oil deal for the beginning of 2021.

Kozhukhova said that gold producer Polyus gained 0.54% to 15,965 rubles after the company reported robust results for July–September.

Yemelyanov said that Russia’s second largest bank VTB jumped 6.47% to 0.03635 rubles following the release of a new mobile app that expanded its functions and the speed of operations.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.36	245.07	34.394
Gazprom	+2.21	174.30	11.524
Lukoil	-0.91	4900.00	8.572
Tatneft	+0.87	512.60	5.187
Polyus	+0.54	15965.00	4.581

(76.2075 rubles – U.S. $1)

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