Russian stock market more stable with blue chips recovering losses

MOSCOW, Apr 11 (PRIME) -- The Russian stock market is consolidating after wide fluctuations of the past two days with most blue chips trading in the positive territory and troubled RUSAL and En+ Group’s stocks losing 1.3–3.5%, as seen by PRIME on the Moscow Exchange on Wednesday.

The MOEX Russia Index added 1.46% and the RTS fell 0.28% as of 12:09 p.m. Moscow time.

Strong crude prices back the oil and gas sector. Rosneft soared 3.14%, Lukoil grew 2.44% and Tatneft rose 1.62%.

Analysts said that “the storm” seems to be calming down.

The ruble continued its dive in the morning hitting the lowest of 64.77 against the U.S. dollar and 80.15 against the euro.

As of 12:00 p.m. the ruble fell by 80 kopecks against the dollar to 63.82 and it dropped 1.12 rubles against the euro to 78.97.

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