Russian stocks rise on positive moods on foreign floors, oil price

MOSCOW, Aug 21 (PRIME) -- Russian stocks increased on Tuesday backed by optimistic moods on foreign floors and growing oil prices, analysts said.

The MOEX Russia Index rose 0.85% to 2,291.76 and the RTS increased 0.64% to 1,072.12.

“The MOEX Russia Index and the RTS index came in plus by the end of trading on Tuesday amid a favorable foreign background,” Veles Broker analyst Yelena Kozhukhova said.

“Russian indices are again finishing the session with moderate optimism, but the sanctions day is getting closer. Prospects of introduction of new U.S. sanctions have been at least partially set aside in the price of assets, and investors may focus on the general mood of U.S. senators,” she said.

The ruble remained in minus against the dollar and euro, but the decline was moderate, she said.

Trading in the U.S. opened with growth of main indices, which added 0.3–0.6%, with investor optimism supported by expectations of trade negotiations between the U.S. and China on Wednesday.

Positive moods were seen on European floors, and oil quotations accelerated growth by the evening and were adding 0.7–1.3%.

Otkritie Broker analyst Andrei Kochetkov said that trading was amid a low investor activity on Tuesday that is partially connected with a period of August holidays and partially with expectations of important news from the U.S.

Retailer Magnit was among growth leaders, with shares rising 3.09%, as the company’s board of directors approved a share buyback program worth up to 16.5 billion rubles.

Children goods retailer Detsky Mir’s shares grew 3% on reports that the company’s net profit went up 46.2% on the year to 1.031 billion rubles in January–June, as calculated under International Financial Reporting Standards (IFRS).

Gold producer Polymetal International added 2.3% after reporting that its IFRS net profit grew 46% on the year to U.S. $175 million in January–June.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.31	191.80	7.702
Magnit	+3.09	4235.00	3.002
Lukoil	+1.8	4465.00	2.259
Gazprom	+1.26	143.30	1.939
Norilsk Nickel	-0.18	10930.00	1.325

(67.1807 rubles – U.S. $1)

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