Russian stocks mixed on oil price volatility, strong ruble
MOSCOW, May 15 (PRIME) -- The Russian stock market closed mixed on Wednesday after a volatile trading session, following the oil market trend, with the RTS index growing and the MOEX Russia Index falling on a strong ruble, analysts said.
The MOEX Russia Index decreased 0.31% to 2,554.49, and the RTS Index rose 0.44% to 1,247.02.
УA persistent rise Gazprom today did not save the MOEX Russia Index from a moderate decline. The absence of a breakthrough in the RussianЦU.S. negotiations (albeit few expected that) and a decline of oil quotations on the back of a sudden rise of reserves in the U.S. and publication of data about growth of the Chinese industry in April, which was worse than expectations, took their toll,Ф BCS senior analyst Sergei Suverov said.
He said that a bill on new sanctions against the Nord Stream-2 gas pipeline was also bad news for Russia.
According to Suverov, oil companiesТ securities decreased most during the day.
But in the evening, oil prices started to grow with the Brent rising by 0.46% to U.S. $71.57 as of 5:54 p.m., Moscow time, and the trend on the Russian market changed, analysts said.
Otkritie Broker analyst Andrei Kochetkov said that the ruble strengthened due to high demand for state OFZ bonds.
Kochetkov said that investors understand that the continuing U.S.ЦChina trade war can yield benefits for their trade partners, and this factor keeps Russia from a deep downward correction.
Below are the MOEX Russia IndexТ five most active stocks on Wednesday:
|Company||Change, %||Last price, rbl||Trading volume, bln rbl|
(65.3001 rubles Ц U.S. $1)