Russian stocks rise on rumors of US–China trade deal

MOSCOW, Apr 3 (PRIME) -- Russian stocks grew on Wednesday in line with the foreign bourses on the news about progress in the U.S.–China trade deal, analysts said.

The MOEX Russia Index rose 0.18% to 2,532.32 and the RTS increased 0.67% to 1,224.35.

“The Financial Times said that a trade agreement between the U.S. and China was 90% coordinated. The report became the reason for an optimistic mood of the Asian and European bourses, as well as of the commodity markets. Russian investors decided not to stay on the sidelines and tried to drag the MOEX Russia index up to its record high,” Andrei Kochetkov, leading analyst at Otkritie Broker, said.

Gaidar Gasanov, an expert at consulting company International Financial Center, said that the oil market continued to provide strong support to the Russian market.

Dmitry Babin, a stock market expert at BCS Broker, said that the Russian stocks could have risen even higher, but the growth was curbed by a Reuters report about a new U.S. bill on anti-Russian sanctions, including tough restrictions against Russia’s banking, energy, defense sectors, and sovereign debt.

“The report caused a short-term downward impulse for the Russian indices and the ruble, after which our market switched into consolidation and even tried to grow once more. The thing here is that the Reuters report said that the sanctions would be rolled in only if interference of the foreign state in the U.S. federal elections in no more than 30 days after the elections took place is proved. The measures are also supposed to become an answer to Russia’s actions in Ukraine and Syria, but the date of their introduction is still unclear,” Babin said.

Kochetkov also said that Sberbank was among the market leaders with shares rising 0.38% to 219.05 rubles thanks to re-signing of a deal to sell 99.85% in Turkish unit DenizBank to Emirates NBD for 15.48 billion Turkish liras.

Anastasia Sosnova, analyst at investment company Freedom Finance, said that real estate developer LSR Group was among the loss leaders after contracting 2.61% to 618.40 rubles. Solneau Limited, controlled by LSR Group Board of Directors Chairman Andrei Molchanov, sold 9.71% in the firm with a significant discount to the market triggering sales, she said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.38	219.05	20.531
Gazprom	+1.28	156.99	5.299
Lukoil	-0.54	5926.00	3.550
Norilsk Nickel	+0.18	14186.00	3.317
Polyus	-2.92	5320.00	1.994

(65.4726 rubles – U.S. $1)

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