Russian stocks rise on ruble stabilization, oil price growth
MOSCOW, Aug 21 (PRIME) -- The Russian stock market grew on Monday as the ruble stabilized, while the oil prices increased, analysts said.
The MOEX Russia Index increased by 0.92% to 3,139.93, and the RTS index rose by 0.95% to 1,057.02.
"The Russian market demonstrated growth in the first half of Monday. Oil's getting pricier and the ruble rate were the support factors. The export sectors of oil and gas, metals and mining, chemicals and petrochemicals were on the rise," Otkritie Broker’s leading analyst for global research Andrei Kochetkov said.
The Brent oil price added about 1% in the middle of the Russian session to levels near U.S. $84.20.
Veles Capital analyst Yelena Kozhukhova said that relative stability of the ruble and corporate stories helped the Russian market to increase.
VK rose 2.90% on media statements about its possible purchase of content monetization service Boosty.
The Moscow Exchange corrected downwards 0.85% after soaring last week.
Bank Saint Petersburg fell 1.05% on the common shares continuing a downward correction that started on August 18 after dividend announcement, Kozhukhova said.
The mood on the foreign trading floors improved in spite of a smaller than expected decline of the Chinese interest rates. Some market participants did not rule out larger economic stimulation measures by the People's Bank of China in the future, the analyst said.
Below are the MOEX Russia Index’ five most active stocks on Monday:
| Company | Change, % | Last price, rbl | Trading volume, bln rbl |
|---|---|---|---|
| Sberbank | -0.13 | 260.81 | 8.823 |
| Lukoil | -0.28 | 6260 | 6.997 |
| Magnit | +5.29 | 5965.5 | 6.322 |
| NCSP | +9.58 | 15.78 | 5.087 |
| Gazprom | +0.44 | 176.25 | 4.359 |
(93.4047 rubles – U.S. $1)
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