Russian stocks rise on positive economy data, strong ruble

MOSCOW, Dec 8 (PRIME) -- The Russian stock market ended the main trading in moderate positivity on Friday amid favorable economy data and a rising ruble, analysts said.

The MOEX Russia Index rose 0.21% to 3,079.99 and the RTS increased 0.29% to 1,054.28.

“Optimistic macroeconomic data, including the reduction of the budget deficit by 0.5%, had a positive impact on the ruble exchange rate and, accordingly, on the dynamics of the RTS index,” Freedom Finance Global leading analyst Natalya Milchakova said.

The unstable geopolitical situation and uncertainty in the global markets ahead of the announcement of important decisions on interest rates restrained the activity of buyers, the analyst added.

“The Russian market traded in the plus in the first half of the day. However, as the ruble strengthened, buyers' optimism weakened,” Otkritie Research leading analyst for global research Andrei Kochetkov said.

According to Milchakova, the shares of Credit Bank of Moscow were the leaders of the downgrade falling 2.37%, because the banking sector looks rather overheated on the background of expected measures to cool down the mortgage market.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.06	264.96	8.669
Mechel	-0.33	274.98	7.308
Gazprom	-0.87	161.96	2.997
Lukoil	+0.78	7147	2.482
ALROSA	+4.65	70.67	2.088

(92.5654 rubles – U.S. $1)

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