Russian stocks rise on positive background, growing oil
MOSCOW, Jul 26 (PRIME) -- Russian stocks moderately grew on Thursday amid a positive foreign background, rising oil prices, and a stable ruble, analysts said.
The MOEX Russia Index rose 0.45% to 2,293.07 and the RTS increased 0.62% to 1,148.79.
УThe Russian stock market is growing at a medium speed on Thursday in the absence of negative news. It seems that market participants have adapted to the threat of new sanctions, but are making purchases cautiously, without losing their vigilance. Apparently, the growth potential of the Russian stock market will remain limited in the near future,Ф Freedom Finance analyst Anastasia Sosnova said.
European indices are adding 0.8% amid de-escalation of tensions in the E.U.ЦU.S. relations, she said.
Veles Broker analyst Yelena Kozhukhova said that oil quotations are adding nearly 1% on the back of news about reduced oil exports from Saudi Arabia.
Retailer Magnit was the growth leader, jumping 5.68% after reporting stronger than expected financial results for AprilЦJune, with revenue rising 6.5% to 306.701 billion rubles, as calculated under International Financial Reporting Standards (IFRS).
Internet company Yandex added 1.61% on reports that its revenue increased 34% on the year to 29.672 billion rubles in AprilЦJune, as calculated under the U.S. GAAP standards.
Coal producer Raspadskaya rose 2.23% after reporting that it boosted coal concentrate sales by 5% on the year to 3.529 million tonnes in JanuaryЦJune.
Precious metals producer Polymetal International added 0.42% on reports that its gold production increased 15% on the year to 446,000 ounces in JanuaryЦJune.
Below are the MOEX Russia IndexТs five most active stocks on Thursday:
|Company||Change, %||Last price, rbl||Trading volume, bln rbl|
(63.0836 rubles Ц U.S. $1)