Russian stocks rise on strong oil, corporate news, falling ruble

MOSCOW, Aug 28 (PRIME) -- The Russian stock market increased on Monday amid growing oil prices, the weakening ruble, financial reports and dividend news, analysts said.

The MOEX Russia Index rose 1.31% to 3,198.72 and the RTS increased 1.35% to 1,057.97.

“The MOEX Russia Index came close to the annual maximum of 3,225.78 points. Demand for shares grew on the back of higher oil quotations, as well as the ongoing corporate reporting and dividend season,” Yevgeny Linchik, head managing company Pervaya’s department of alternative investment said.

The rise of the MOEX Russia Index was supported by “the sluggish dynamics” of the ruble, as well as the purchase of blue chips, Otkritie Broker leading analyst for global research Andrei Kochetkov said.

“The Russian stock market on Monday by the end of the main trades was in a confident plus thanks to purchases in some securities and the ruble's retreat from local lows,” Otkritie Broker leading analyst for global research Andrei Kochetkov said.

Seligdar’s shares increased the most on the market on Monday over investors’ expectations of financial results for January–June and dividend news.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+2.5	267	13.662
UAC	+43.67	1.775	5.048
Lukoil	+0.83	6620.5	4.97
Yakovlev	+19.79	102.6	4.966
Sovcomflot	-0.9	114.11	4.765

(94.7117 rubles – U.S. $1)

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