MOSCOW, Oct 31 (PRIME) -- Russian stocks increased on Wednesday backed by positive dynamics on Western floors and oil prices trying to rebound, analysts said.
The MOEX Russia Index rose 2.29% to 2,352.71 and the RTS increased 1.89% to 1,126.21.
“A positive foreign background and oil’s attempts to return to growth are again supporting the domestic market,” Otkritie Broker analyst Andrei Kochetkov said.
Veles Capital analysts said “most exporters traded in a noticeable plus, especially the oil and gas sector. There is currently an active discussion of control of domestic fuel prices, and investors expect a compromise in this issue between oil companies and the government.”
Internet company Yandex was again among growth leaders, adding 3.99% on reports that the company could hand over 60% of voting rights to a fund that will be controlled by the company’s founder Arkady Volozh and 10–12 top managers with Russian citizenship.
Fertilizer producer PhosAgro added 3.35% after reporting that it raised production of fertilizers and phosphates by 9.8% on the year to 6.681 million tonnes in January–September.
Metals giant Norilsk Nickel closed 2.78% higher as the company’s nickel output rose 9% on the quarter to 53,739 tonnes in July–September.
Magnitogorsk Iron and Steel Works (MMK) increased 1.83% on reports that its net profit rose 40% on the year to 68.687 billion rubles in January–September, as calculated under Russian Accounting Standards (RAS).
Below are the MOEX Russia Index’s five most active stocks on Wednesday:
| Company | Change, % | Last price, rbl | Trading volume, bln rbl |
|---|---|---|---|
| Sberbank | +2.72 | 189.80 | 12.502 |
| Lukoil | +3.48 | 4945.00 | 3.918 |
| Gazprom | +2.76 | 155.47 | 3.757 |
| Yandex | +3.99 | 1916.50 | 2.473 |
| Rosneft | +1.49 | 460.45 | 2.011 |
(65.7742 rubles – U.S. $1)
End
|
|
