Stocks rise on hopes for US Democrats victory, corp reports

MOSCOW, Nov 6 (PRIME) -- The Russian stock market increased on Tuesday as investors pinned their hopes on the Democrats’ victory in the U.S. midterm elections, and many solid corporate financial reports were released, analysts said.

The MOEX Russia Index rose 1.44% to 2,412.31, and the RTS index increased 1.44% to 1,151.14.

“Optimism reigned on the domestic market. This can be attributed to the signals from the U.S. and China about readiness for a compromise in trade issues. Besides, the Democrats can win the U.S. midterm elections, which means that they will not challenge Russia over meddling with the elections,” Otkritie Broker analyst Andrei Kochetkov said.

Alor Broker analysts said that the Russian market ignored the negative trend predominant on the foreign markets and probably caught up with other floors, because it was closed on Monday.

According to Kochetkov, the rise of the Services purchasing managers' index (PMI) to 56.9 in October from 54.7 in September was an additional positive factor for the Russian market as investors saw it as a sign of improving economy thanks to stabilization of the currency exchange market.

Kochetkov said that corporate reports showed solid figures.

Rosneft soared after saying that its net profit more than tripled in January–September, propelling the entire oil and gas sector higher.

Sberbank increased on hopes of a good January–October financial report under Russian Accounting Standards (RAS).

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+2.7	197.8	12.927
Lukoil	+1.51	5055	4.590
Rosneft	+4.97	482.45	3.030
Gazprom	+1.49	156	2.791
Norilsk Nickel	+0.83	11565	1.551

(65.5799 rubles – U.S. $1)

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