Russian stocks rise on stronger oil, hopes for economic recovery

MOSCOW, Apr 12 (PRIME) -- The Russian stock market edged up on Monday thanks to rising global prices for crude and metals, and internal corporate stories, analysts said.

The MOEX Russia Index grew 1.05% to 3,522.65 and the RTS increased 1.04% to 1,432.48.

“The MOEX Russia and the RTS indices stayed in the positive territory at the end of the trading session, but corrected down from the day’s highest… Buyers’ attempts to drive the market up still fail,” Veles Broker analyst Yelena Kozhukhova said.

Correction was seen on foreign stock markets, crude prices tried to grow, and the Russian market was additionally supported by local corporate stories, she added.

Freedom Finance analyst Valery Yemelyanov said that the Brent crude price grew to over $64.3 per barrel and may continue to rise.

Kozhukhova said that metal producers were among the top gainers thanks to hopes for recovery of the global economy and increasing demand for steel products. MMK rose 4.46%, Severstal added 4.30%, Norilsk Nickel grew 3.85%, and NLMK went up 3.88%.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Norilsk Nickel	+3.85	25350	23.420
Sberbank	+0.05	281.2	15.385
Lukoil	+0.99	5991.5	7.347
Gazprom	+0.14	222.45	6.315
NLMK	+3.88	255	3.325

(77.1657 rubles – U.S. $1)

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