Russian stocks rise on stabilization of ruble, corporate news

MOSCOW, Oct 13 (PRIME) -- The Russian stock market increased on Friday supported by the stabilized ruble rate, some corporate stories and growing oil prices, analysts said.

The MOEX Russia Index rose 0.56% to 3,192.33 and the RTS increased 0.75% to 1,034.11.

“The Russian stock market on Friday by the end of the main trades held in a slight plus, receiving support from purchases of some stocks and stabilization of the ruble,” Veles Capital’s analyst Yelena Kozhukhova said.

Yandex's shares performed better than the market amid the news about Russia and Saudi Arabia discussing the possibility of Yandex's development in the country, the analyst said.

“Russian shares were supported by a significant growth in oil prices, which exceeded U.S. $89 per barrel of Brent, as well as stabilization of the ruble rate after a strong strengthening the day before on the news about the introduction of mandatory sale of foreign currency earnings by leading exporters,” Igor Dodonov, analyst at investment company Finam, said.

However, the restraining factor was unfavorable situation on foreign stock markets on the background of weak statistics from China, as well as continuing concerns about a prolonged tight monetary policy in the U.S. and the E.U., the analyst added.

According to Dodonov, the trading activity today was lower than in the previous sessions, as many investors probably preferred to be cautious before the weekend.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Lukoil	+1.03	7,193	10.484
Gazprom	+0.13	169.72	5.493
Sberbank	-0.3	263.7	4.144
Yandex	+1.87	2511	2.732
Tatneft	+0.99	623.7	2.328

(96.9948 rubles – U.S. $1)

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