Russian stocks rise thanks to improving external background

MOSCOW, Nov 11 (PRIME) -- The Russian stock market rested in the negative territory in the first half of the day on Thursday, but then managed to bounce back thanks to improving external environment to close higher, analysts said.

The MOEX Russia Index grew 0.4% to 4,189.35 and the RTS increased 0.05% to 1,854.48.

“The MOEX Russia and the RTS indices rebounded from the day’s lows and tried to return to growth, but were still seen below the short-term resistance lines of 4,230 and 1,875. In fact, the market continues consolidation,” Veles Broker analyst Yelena Kozhukhova said.

Moderately optimistic sentiments prevailed on the global stock exchanges, which looked like correction on the U.S. stock and energy markets, she also said. Oil failed to break through the short-term resistance marks, which point to a possibility of a further decrease at the end of the working week.

Kozhukhova added that movements of the Russian stock market look chaotic, which proves a lack of confidence of the participants.

Alexei Golovinov, chief analyst at PSB Bank, said that non-ferrous metals producers were popular on Thursday. RUSAL added 4.05% thanks to growth of the aluminum price to U.S. $2,650 per tonne, and Norilsk Nickel rose 1.79% on inflating copper and palladium.

He also said that fertilizers producer Acron was among the day’s leaders increasing 5.65% thanks to the board of directors’ dividends decision, and oil company Surgutneftegas jumped almost 20%.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+2.23	356.44	13.876
Gazprom	+0.3	346.84	12.209
Surgutneftegas	+19.98	40.53	10.005
Lukoil	-0.68	7089	6.940
Polyus	+5.21	15904.5	6.508

(70.6950 rubles – U.S. $1)

End