Russian stocks rise without paying attention to global negativity

MOSCOW, Aug 13 (PRIME) -- The Russian stock market rose on Thursday with the MOEX Russia Index hitting another local high despite a generally negative global background, analysts said.

The MOEX Russia Index grew 0.87% to 3,080.44 and the RTS rose 1.45% to 1,326.13.

“The Russian stock market continued upward dynamics on Thursday despite a negative foreign environment. Local stocks could have been pressured by the energy market situation with the nearest Brent oil futures correcting down thanks to worse oil demand forecasts of the International Energy Agency (IEA),” senior analyst at Promsvyazbank Bogdan Zvarich said.

Major European benchmarks lost around 0.9% by the end of the trading session, and the core U.S. indices S&P500 and Dow Jones were seen mixed, he added.

Zvarich also said that the MOEX Russia Index managed to reach another local high and to consolidate within a 3,050–3,100 range.

Veles Broker analyst Yelena Kozhukhova said that oil pipeline monopoly Transneft was among the top gainers jumping 4.57% without any clear reasons.

Stocks of IT giant Yandex surged 3.92% on the news the company has been included into the calculation base of the MSCI Russia index from September 1.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.06	242.54	20.015
Yandex	+3.92	4457	14.949
Norilsk Nickel	+0.87	20950	7.833
Gazprom	+0.85	194.44	6.933
Lukoil	+0.38	5323	5.156

(73.2351 rubles – U.S. $1)

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