Russian stocks rise on shares of metals, oil, gas companies

MOSCOW, Dec 11 (PRIME) -- Russian stocks grew on Thursday as metals, oil, and gas companies supported the market, analysts said.

The MOEX Russia Index rose 0.75% to 2,954.40 and the RTS increased 0.61% to 1,463.15.

“While the external markets waited for more news from the trade negotiations and a rate decision of the Federal Reserve System, the Russian stocks went into the green zone. Growth was secured by metals and oil companies, though all sectors had their outsiders and leaders,” Andrei Kochetkov, analyst at Otkritie Broker, said.

Gas giant Gazprom gained 0.18% to 247.34 rubles as it will have no difficulties with the Nord Stream-2 gas pipeline project, while independent gas producer Novatek underperformed to lose 0.26% to 1,245.60 rubles as the company would have to finance the Arctic LNG-2 project with borrowed funds instead of state financing, Kochetkov said.

Yelena Kozhukhova, analyst at Veles Capital, said that the background for the Russian market was mixed during the day, as the European bourses and the U.S. stock indices firmed, while theoil prices contracted.

“The MOEX Russia Index and the RTS index tried to break through the resistance levels of 2,970 and 1,470, respectively, but in general, the movements were in line with a sideways trend that emerged earlier this week. The resistance levels will be broken only in case the background improves,” Kozhukhova said.

Kochetkov also said that shares of top bank Sberbank grew 1.01% to 240.32 rubles on expectations of a significant increase in lending in Russia due to reductions of key rates by the central bank.

Dmitry Bedenkov, head of the research department of investment company Russ-Invest, said that shares of oil company Tatneft gained 1.52% to 762.40 rubles on expectations of interim dividends, the yield on which may exceed 3% in current prices.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.01	240.32	10.612
Gazprom	+0.18	247.34	7.734
Lukoil	+0.25	6110.00	5.627
Norilsk Nickel	+1.08	18678.00	3.648
Surgutneftegas	+3.79	45.035	2.979

(63.5788 rubles – U.S. $1)

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