Russian stocks rise thanks to stronger crude, softening geopolitics

MOSCOW, Sep 11 (PRIME) -- The Russian stock market edged up on Friday thanks to a softening geopolitical environment and strengthening oil prices, analysts said.

The MOEX Russia Index grew 0.45% to 2,910.51 and the RTS rose 0.53% to 1,223.05.

“The Russian stock market was trying to break into the positive territory from the first minutes of trading, and it managed to do it by the middle of the day. However, the growth cannot be called significant,” Otkritie Broker analyst Andrei Kochetkov said.

“Ruble-denominated stocks are pressured by a strengthening ruble, crude is trading higher, but the commodity looks uncertain thanks to a weakening U.S. dollar,” he added.

In idea terms, one can see softening of geopolitical risks although the fate of Russia’s Nord Stream-2 gas pipeline project is highly influenced by the U.S.’ scenario, Kochetkov added.

Grocery retailer Magnit, diamond producer ALROSA, and power company Inter RAO were among the best performers adding more than 3%.  

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.03	220.53	9.561
Gazprom	+2.38	177.94	6.317
Yandex	+1.69	4675.4	5.857
Norilsk Nickel	-0.77	19378	5.855
Polyus	+2.34	17199	3.880

(75.5274 rubles – U.S. $1)

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