Russian Stock Market Surges on Rising Oil Prices and US-Russia Meeting Expectations

The Russian stock market experienced significant gains on Tuesday, fueled by rising oil prices and the anticipation of results from the videoconference meeting between Russian President Vladimir Putin and US President Joe Biden. The MOEX Russia rose to 3870, with leading stocks such as Rusal and Ozon GDRs driving the surge. The MOEX closed up 1.7% at 3873.2 and the RTS rose 1.6% to 1647.14.

Key Takeaways:

• The Russian stock market witnessed a significant surge, with the MOEX Russia topping 3870, led by Rusal and Ozon GDRs.
• The MOEX closed up 1.7% at 3873.2, while the RTS rose 1.6% to 1647.14.
• Rusal (MOEX: RUALR) topped the list of advancers with a gain of 5.6%, followed closely by Ozon (MOEX: OZON) ADRs with a gain of 4.4%.
• Sberbank posted a net profit of 101.62 billion rubles in November, a significant increase from last year's 78.03 billion rubles.
• Lukoil resumed its buyback program after a long break, repurchasing 464,950 shares and 393,441 ADRs between November 26 and December 1.
• Declines were seen in Mail.ru Group GDRs (-5.7%), TCS Group (MOEX: TCSG) GDRs (-1.4%), and shares in Federal Grid Company (MOEX: FEES) (-2%).

Statistics:

• Trading volume on the Moscow Exchange reached 132.353 billion rubles, with Sberbank ordinary shares accounting for 41.51 billion rubles, Gazprom for 21.14 billion rubles, and Lukoil for 13.1 billion rubles.
• The MOEX Russia topped 3870, with Rusal and Ozon GDRs leading the gains.
• Sberbank's net profit in November was 101.62 billion rubles, a significant increase from last year's 78.03 billion rubles.
• Lukoil repurchased 464,950 shares and 393,441 ADRs between November 26 and December 1.

Sources:

• Interfax, Dec 7 (Interfax)
• MOSCOW
• Russian stock market accelerates gains late on Tues on rising oil prices in expectation of results from meeting of U.S. and Russian presidents
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