Russian stocks rise on ruble stabilization, USC transfer to VTB

MOSCOW, Aug 10 (PRIME) -- The Russian stock market grew on Thursday thanks to stabilization of the ruble against foreign currencies and on the news about a transfer of state interest in United Shipbuilding Corporation (USC) to VTB, analysts said.

The MOEX Russia Index grew 1.59% to 3,148.86, and the RTS index increased 1.29% to 1,017.71.

"The growth of the MOEX Russia Index and the RTS accelerated on the back of purchases in some issuers, while the ruble indicator (the MOEX Russia Index) targeted the nearest resistance level of 3,160, and the U.S. dollar one (the RTS) tried to keep above 1,000, as the ruble suspended its fall against the U.S. currency," Veles Capital’s analyst Yelena Kozhukhova said.

Otkritie Broker’s leading analyst for global research Andrei Kochetkov said that the corporate news was a positive factor for the market, with the shares of VTB leading on a report that President Vladimir Putin supported a transfer of the state stake in USC to the bank.

The exporters continued to receive support from a weak national currency, he added.

Novatek grew 2.29% on reports about strikes of workers in Australia and risks of gas supply disruptions, which boosted the prices, Kozhukhova said.

Seligdar firmed 2.87% on investor hopes that it would return to dividend payments, the analyst said.

The market also hopes for dividends on the preferred shares of Bashneft,which grew 2.59%, she said.

Yandex was among the outsiders on the news about negotiations to sell affiliate Yango Israel. According to Kochetkov, the market sees this step as forced, because a law on obligatory taxi order reports to the Russian intelligence will enter in force on September 1. The sale may take place at a discount, the analyst said.

VK declined 2.46% after selling a controlling stake in Cyprus's MGL Wallet for 1 million euros, Kochetkov said. The report of the company sparked no enthusiasm on the market, he said.

Ivan Kapustyansky, analyst at managing company Pervaya, said that the Brent price level of U.S. $87 per barrel was favorable for the Russian market, as it was close to the annual maximum of $88.97.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
VTB	+7.12	0.028435	14.689
Sberbank	+0.98	266.49	8.562
Gazprom	+1.13	176.48	8.059
Lukoil	+1.26	6249	5.487
Yandex	-0.04	2722.2	5.252

(97.3999 rubles – U.S. $1)

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