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UPDATE 1-Novatek, Gazprom lead Russian stocks higher, rouble weakens
October 7, 2013 / 3:22 PM / 4 years ago

UPDATE 1-Novatek, Gazprom lead Russian stocks higher, rouble weakens

(Updates prices, adds comment, details)

Oct 7 (Reuters) - Moscow stock indexes edged up on Monday led by gains in Gazprom and Novatek after President Vladimir Putin said plans to liberalise LNG exports would take into account the interests of both gas producers.

At 1439 GMT the rouble-denominated MICEX index edged up 0.4 percent to 1,480 points, while the dollar-denominated RTS was up 0.1 percent at 1,444 points.

Shares in Gazprom added 1.5 percent, while stocks in Russia’s largest independent gas producer Novatek jumped 2.1 percent.

The stock indexes trimmed earlier losses. “The demand for Novatek is linked to the president’s readiness to liberalise exports ... this was enough to lift shares, although this is not news,” a trader at a Western bank said.

Putin said the liberalisation plan would support projects of both Gazprom and Novatek. The government is considering ending Gazprom’s legal monopoly on gas exports, but only for liquefied natural gas.

Global risk aversion stirred by deadlock in U.S. budget talks pushed the rouble lower. The Russian currency fell 0.3 percent against the dollar to 32.28 and was down 0.3 percent against the euro at 43.75.. The rouble weakened 0.3 percent to 37.44 against the dollar-euro basket.

For rouble poll data see

For Russian equities guide see

For Russian treasury bonds see

Russia in graphics: (Additional reporting by Zlata Garasyuta; Writing by Maya Dyakina; Editing by Ruth Pitchford)

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