Russian stocks rise on lower sanctions risks, stronger oil prices

MOSCOW, Apr 10 (PRIME) -- The Russian stock market edged up on Wednesday to hit new record highs backed by lower anti-sanctions risks and strengthening crude, analysts said.

The MOEX Russia Index grew 0.32% to 2,578.58 and the RTS rose 1.13% to 1,262.48.

“The domestic stock market continues to benefit from the idea of lower external restrictions risks. Sberbank stock is still the leader of the movement to new record highs… also (backed by) expectations of high dividends,” Otkritie Broker analyst Andrei Kochetkov said.

BCS Broker expert Dmitry Babin added that other blue chips including gas giant Gazprom and oil major Rosneft also joined the rally adding 0.12% to 162.89 rubles and 2.27% to 425.35 rubles, respectively.

The MOEX Russia and the RTS indices started the day with a steady growth, but consolidated later in the day pressured by significant ruble strengthening, Babin said.

The local benchmarks were also supported by stronger crude with the Brent oil price surging to around U.S. $71.5 per barrel.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+2.39	243.68	31.346
Gazprom	+0.11	162.88	6.384
Lukoil	-0.77	5692	4.355
Sberbank	+0.34	206.4	2.707
VTB Bank	+1.67	0.036885	2.351

(64.7766 rubles – U.S. $1)

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