Russian stocks rise on solid Gazprom report, US Mueller quitting

MOSCOW, May 30 (PRIME) -- The Russian stock market grew supported by a high interest to oil and gas companies’ shares after Gazprom released a solid financial report for January–March and by resignation of U.S. Prosecutor General Robert Mueller, analysts said.

The MOEX Russia Index grew 0.70% to 2,659.52, and the RTS index increased 0.83% to 1,286.52.

“A high interest of investors to securities of oil and gas sector companies keeps afloat the broad market indices. A solid financial report by Gazprom which is triggering speculations about high dividends already for 2019 even if the payment coefficient does not rise has been the main reason for the demand for shares of the sector today,” Sofya Kirsanova, senior analyst at investment company Raiffeisen Capital, said.

Gazprom’s net profit soared 44% on the year in January–March, as calculated under International Financial Reporting Standards (IFRS).

Yaroslav Kabakov, director for strategy of Finam, said that the Russian market reacted positively to resignation by Mueller, who led an investigation into possible relations between U.S. President Donald Trump and Russia, the investigation is terminated.

The analyst said that the trade war between the U.S. and China is in the focus of everybody’s attention after China threatened to cease exports of rare earth metals in retaliation against measures by Washington.

Kirsanova said that the sides of the conflict are still giving signs that renewal of the dialogue is possible, and a G20 summit in late June can give start to new talks.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	+2.88	213.1	16.401
Sberbank	-0.28	232.75	8.500
Lukoil	-0.19	5230	5.469
Tatneft	+3.88	754.1	2.172
Norilsk Nickel	-0.06	13700	1.659

(64.9084 rubles – U.S. $1)

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