Stocks rise as VTB promises higher dividends, Mechel debt hopes
MOSCOW, Sep 4 (PRIME) -- The Russian stocks grew on Wednesday supported by rising oil prices, depreciation of the U.S. dollar, and the news that VTB Bank may resume paying half of its net profit in dividends and Sberbank may restructure MechelТs debt, analysts said.
The MOEX Russia Index rose 0.69% to 2,793.36 and the RTS increased 2.09% to 1,330.77.
Andrei Kochetkov, senior analyst at Otkritie Broker, said that VTB Bank gained 9.46% to 0.04291 rubles after its CEO Andrei Kostin said that it planned to return to paying 50% of the net profit in dividends already in the payout for 2019.
SberbankТs Deputy CEO Anatoly Popov said that the bank hoped to agree to restructure debts of metals and mining company Mechel until the end of 2019, and the metals company gained 4.55% to 63.21 rubles, Kochetkov said.
УThe background was positive during the day,Ф Yelena Kozhukhova, analyst at Veles Capital, said.
The oil prices grew, the European stocks were also in the green zone, while estimates for business activity in the services sector in Germany and in the Eurozone were improved, Kozhukhova said.
Yaroslav Kabakov, director for strategies at investment company Finam, said that the U.S. dollar weakened providing support to the commodity sector and emerging markets.
Below are the MOEX Russia IndexТ five most active stocks on Wednesday:
|Company||Change, %||Last price, rbl||Trading volume, bln rbl|
(66.9072 rubles Ц U.S. $1)