Stocks grow on global optimism, oil price rise, robust reports

MOSCOW, Aug 27 (PRIME) – The Russian stock market rose on Friday on optimistic forecasts, good news from the FRS, increasing crude prices and robust financial reports of local companies, analysts said.

The MOEX Russia Index rose by 0.93% to 3,887.38 and the RTS increased by 1.80% to 1,664.25.

Igor Dodonov, analyst at FINAM, said that the Russian stock market was supported by growing oil prices and global capital markets stabilizing before Jackson Hole FRS statements. The Asian exchanges closed moderately lower, but the European indices traded higher.

“The markets calmed down after Jerome Powell again emphasized that inflation is temporary and no signals have been announced as of now that the stimulus measures will be curtailed,” Alexandra Ovchinnikova, analyst at Sber Asset Management, noted.

ATON said that Tatneft reported solid financial results that outperformed market expectations.

According to PSB Analysis & Strategy, Lukoil reports for April-June 2021 turned out to be impressive as expected, while Mechel presented extremely impressive results for January-June 2021.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	+1,41	298.5	8.335
Sberbank	+1,31	326.76	8.088
Lukoil	+1,4	6,432	4.524
Mechel pref	+18,29	221.2	3.843
Tatneft	-1,4	486.1	3.388

(73.5800 rubles – U.S. $1)

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