The Russian stock market increased on Friday because investors believe that the tensions between Washington and Moscow over the crisis in Ukraine will ease after U.S. President Barack Obama and his Russian counterpart Vladimir Putin meet in France to commemorate the 70th D-Day anniversary, analysts said.
The MICEX rose 0.97% to 1,484.94, and the RTS went up 1.89% to 1,359.10.
“The Russian market received a positive impulse after countries’ leaders met in France to celebrate the D-Day anniversary. The conflict has already lessened somehow, spurring investors’ interest for purchases,” Metropol analyst Sergey Filchenkov said.
Obama said that during the D-Day events, he will reaffirm his idea that the Ukrainian conflict may be solved only if other countries unite their efforts to pacify it.
On Friday, Putin had a brief meeting with Ukraine’s President-elect Pyotr Poroshenko, which was another positive factor for recovery of the relations between Russia and Western countries, Investcafe analyst Mikhail Kuzmin said.
The U.S. labor market statistics release triggered an increase of the Russian gauges, Ivan Fomenko, director of Absolut Bank’s trust management department, said. The U.S. economy added 217,000 jobs in May, while the unemployment kept flat.
Novatek outperformed the market after the news that the government is considering stripping gas giant Gazprom of its pipeline export monopoly, Filchenkov said.
Among second-tier companies, Sollers and Mostotrest have been good bets lately, Filchenkov said. Mostotrest and ARKS are likely to win in a tender for construction of a bridge across the Kerch Strait separating Crimea from the Krasnodar Region. The sum of the deal will stand at least at 384 million rubles, he said.
On Friday, Sollers grew 0.20% to 647 rubles while Mostotrest fell 0.56% to 109.40 rubles.
Below are the MICEX’ five most active stocks on Friday: