Russian stocks rise supported by positive sanctions news

MOSCOW, Jan 17 (PRIME) -- The Russian stock market edged up on Thursday backed by growing chances that sanctions against Russian aluminum giant UC RUSAL and multi-industry holding En+ Group can be lifted, analysts said.

The MOEX Russia Index grew 0.54% to 2,447.64 and the RTS rose 0.35% to 1,157.06.

“The situation on the Russian stock market is calm. The discussion on a resolution to block the cancellation of sanctions against companies of (Russian tycoon) Oleg Deripaska in the U.S. Senate added some positivity,” Otkritie Broker analyst Andrei Kochetkov said.

On Wednesday, the Senate failed to approve swiftly a resolution to keep sanctions on companies tied to Oleg Deripaska, including RUSAL and En+ Group. The news pushed RUSAL up by 3.28% to 30.670 rubles, and En+ by an impressive 12.29% to 498.1 rubles.

Grocery retailer Magnit jumped 4.66% to 4,155 rubles after its board of directors had approved appointment of Ian Dunning, former CEO of another retailer, Lenta, as the company’s president.

Analyst at Freedom Finance Anastasia Sosnova said she sees a decline of interest in local energy stocks thanks to strengthening of the ruble. 

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.02	203.32	12.143
Magnit	+4.66	4155	4.000
Lukoil	+1.08	5184.5	3.611
Gazprom	+0.13	157.1	3.540
Norilsk Nickel	+0.77	13282	1.903

(66.7617 rubles – U.S. $1)

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