Russian stocks soar on global lull, oil price consolidation

MOSCOW, Aug 22 (PRIME) -- The Russian stock market rose on Tuesday in thin trading amid a positively calm foreign background and oil price consolidation, analysts said.

The MICEX grew 0.5% to 1,947.4 and the RTS rose 0.5% to 1,039.44.

“Investor activity is still low because there are no major events… Generally, the market continues consolidation in the absence of large volumes and strong ideas,” Otkritie Broker analyst Andrei Kochetkov said.

Forex Club analyst Irina Rogova said that the Russian market followed the global stock exchanges trading in the green territory on the lack of bad news.

The market was also supported by crude prices’ consolidation at around $52 per barrel during the day.

Kochetkov said that raw diamond mining giant ALROSA again fell 1.98% to 76.75 rubles on expectations of a major revision of operating and financial outlooks in the wake of its Mir mine flooding.

Metals and mining group Mechel is among the top gainers soaring 7.54% to 164 rubles due to high dividend hopes.

Below are the MICEX’ five most active stocks on Tuesday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.65%	171	6.465
Europlan	-0.56%	793.5	6.026
Gazprom	+0.07%	116	1.871
Norilsk Nickel	+0.73%	9071	1.475
Lukoil	+1.49%	2897	1.468

(59.1409 rubles – U.S. $1)

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