Russian stocks rise on positivity over anti-coronavirus vaccine

MOSCOW, Aug 11 (PRIME) -- The Russian stock market edged up on Tuesday following the global environment encouraged by the news about Russia registering a debut anti-coronavirus vaccine, analysts said.

The MOEX Russia Index grew 1.51% to 3,005.63 and the RTS rose 2.21% to 1,296.01.

“The Russian stock market (increased) as reaction to the external background. Recent U.S. trading demonstrated investors’ interest in cyclic securities and departure from overheated IT stocks. Of course, the Russian stock market largely consists of real, but not virtual sector companies,” Otkritie Broker analyst Andrei Kochetkov said.

Metals and oil stocks looked less overbought than other overheated shares, he added.

Freedom Finance analyst Valery Yemelyanov said that the global market was encouraged by the news that Russia had registered the world’s first anti-coronavirus vaccine. The Brent oil price broke through the U.S. $45 per barrel mark.

Power producer Unipro fell 1.97% after releasing a 26.1% fall in the net profit in January–June.

Gold producers were among the biggest losers due to a sharp gold price correction, Kochetkov also said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+3.81	234.6	17.799
Gazprom	+2.1	191.65	9.325
Norilsk Nickel	0	20612	8.279
Sistema	+6.53	21.427	7.653
Polyus	-3.2	17185	7.044

(73.7750 rubles – U.S. $1)

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