Russian stocks rise on oil industry news, positive backdrop

MOSCOW, Sep 27 (PRIME) -- The Russian stock market increased on Wednesday over the news that the government proposed measures to reduce prices for gasoline, as well as favorable global background, analysts said.

The MOEX Russia Index rose 0.51% to 3,067.61 and the RTS increased 0.07% to 999.22.

“Measures to reduce prices for gasoline and other types of fuels and lubricants, proposed today by the Russian government and involving an increase in dampening payments to oil companies, had a positive impact on the activity of buyers of Russian shares,” Finance Analyst Natalya Milchakova said.

The sentiment on global markets remains quite optimistic as fears of a new recession are gradually receding, she added.

Globaltrans depositary receipts were the leaders of growth in anticipation of an increase in Russia's trade turnover with China, the analyst also said.

According to Yelena Kozhukhova from Veles Capital, the Russian stock market developed a corrective increase due to the stabilization of foreign sentiment.

The inflation expectations increase encouraged investors to buy shares, Otkritie Research analyst Andrei Kochetkov said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.11	256.16	6.494
Lukoil	+1.37	6473.5	4.309
Gazprom	+0.09	165.51	2.729
Sovcomflot	+2.81	116.49	2.659
Rosneft	+1.68	526.55	2.394

(96.2378 rubles – U.S. $1)

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