Russian stocks rise on stable oil prices, favourable background

MOSCOW, Apr 10 (PRIME) -- The Russian stock market increased on Monday amid stable oil prices and favourable global background, analysts said.

The MOEX Russia Index rose 1.55% to 2,547.35 and the RTS increased 0.96% to 983.86.

“The external background on Monday supported the growth of Russian markets. Oil remained stable and sentiment on the world stock exchanges was mixed,” Director of the stock market department at managing company Pervaya Anton Kravchenko said.

According to Freedom Finance Global’s Senior Analyst Natalya Milchakova, reports from the central bank of Russia that the Russian economy is passing the “bottom line” of export earnings did not help the ruble, but provided optimism to the stock market.

Investor sentiment was also positively affected by expectations of strong financial results and dividends, the analyst added.

Shares of Rosseti Center, part of Russia’s state power grid holding Rosseti, were the leaders in growth most likely due to the Moscow Exchange raising the upper boundary of the price corridor for this security, Milchakova said.

Novorossiysk Commercial Sea Port (NCSP) shares grew significantly on investors’ expectations of dividends.

Far-Eastern Shipping Company shares, which increased previously, were the outsiders falling 3.77%.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.75	220.95	16.214
Gazprom	+10.97	174.38	3.124
NCSP	+6.56	7535	2.605
Aeroflot	+3.86	34.94	2.567
Yandex	+0.16	1994	2.511

(82.3988 rubles – U.S. $1)

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