Russian stocks rise on oil price rebound, stronger ruble

MOSCOW, Jul 9 (PRIME) -- Russian stocks rose Thursday as oil prices resumed growth following a recent drop, providing support to the ruble, and amid general improvement of external background, analysts said.

The MICEX rose 1.23% to 1,614.59 and the RTS increased 1.61% to 889.76.

“August futures for the Brent oil price are restoring after sell-outs during several recent trading sessions, gaining 2.3% to U.S. $58.4 per barrel. Like many other commodities, the oil price is increasing amid a recovery of growth on the Chinese stock market,” Finam analyst Timur Nigmatullin said.

“On the currency market, the Russian ruble is strengthening in the wake of rising oil prices and improvement of external background,” he said. In April–June, Russia’s current account surplus amounted to $19.2 billion, while the capital outflow fell to $20 billion, which also supported the ruble, the analyst said.

Retailer Magnit gained 1.40% on reports that its revenue rose by 24.57% on the year to 78.52 billion rubles in June.

Oil pipeline monopoly Transneft’s preferred shares closed 1% higher after the company said its shareholders approved paying 318.67 rubles per common share and 757.87 rubles per preferred share, or a total of 2.946 billion rubles, in dividends for 2014.

Independent gas producer Novatek rose 0.6% after the company said that it increased gas output 7.8% on the year to 33.04 billion cubic meters in January–June.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+2.39	69.35	5.809
Gazprom	+1.60	143.77	3.216
Lukoil	+0.59	2484.60	2.545
Norilsk Nickel	+0.01	9101.00	1.796
Rosneft	+2.10	223.60	1.269

(57.2174 rubles – U.S. $1)

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