Russian stocks rise on positive foreign background, local news

MOSCOW, Aug 7 (PRIME) -- The Russian stock market grew on Tuesday backed by a positive global environment and encouraging local corporate news, analysts said. 

The MOEX Russia Index grew 0.54% to 2,312.19 and the RTS rose 0.75% to 1,147.16.

“The MOEX Russia Index was in the green zone most of the time thanks to rising oil and positive corporate news… European stock exchanges were seen higher… and the U.S. benchmarks edged up at opening as well,” Veles Capital said.

The Brent crude price consolidated above U.S. $74 per barrel. Yevgenia Abramovich, head of the currency risks analysis department at Swiss brokerage house Dukascopy Bank S.A, said that investors expect economic sanctions against Iran effective from Tuesday to influence the supply-to-demand balance of the oil market.

Diamond producer ALROSA jumped 3.85% to 99.7 rubles after the company announced its plans to pay 5.93 rubles per share, or a total of 43.674 billion rubles, in dividends for January–June, which accounts for 70% of the free cash flow.

Russian oil major Rosneft added 2.04% to 427.9 rubles on a sound International Financial Reporting Standards (IFRS) report for January–June marking a 40% rise in the net profit.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-1.03	201.79	12.416
ALROSA	+3.85	99.7	4.454
Rosneft	+2.04	427.9	4.249
Gazprom	+0.99	142.74	2.001
Lukoil	+0.92	4520	1.934

(63.4975 rubles – U.S. $1)

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