Russian stocks close flat on firming oil prices

MOSCOW, Jan 26 (PRIME) -- The Russian stock market closed nearly unchanged on Thursday supported by firming oil prices, analysts said.

The MOEX Russia Index decreased 0.15% to 2,166.92, and the RTS index fell 0.12% to 985.85.

"The Russian market started Thursday with gains… The MOEX Russia Index gradually shifted to marginal dynamics on the absence of significant drivers with support at 2,145 and resistance at 2,229," Dmitry Postolenko, head of managing company Pervaya’s department for fixed income securities management, said.

The Brent prices added about 0.4% by the middle of the Russian session to U.S. $86 per barrel. According to Postolenko, the failure to return to a short-term positive trend may be caused by holidays in China, as hopes for growing oil demand are revolving around acceleration of the Chinese economy.

But a report of the U.S. Department of Energy signaling a smaller than expected growth of oil reserves, supported the prices.

According to Postolenko, the gold producers were the gain leaders, while the IT sector was the outsider of the session.

Freedom Finance Global analyst Vladimir Chernov said that retailer Fix Price grew 0.85% after publishing a financial report for October–December 2022 and announcing a restart of dividend payments.

Veles Capital analyst Yelena Kozhukhova said that Mechel grew 2.75% and reached a peak since January 5 on hopes that a high demand in Asia remains.

Below are the MOEX Russia Index’ five most active stocks on Thursday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.66	151.8	6.304
Polyus	+1.31	8682	3.105
Polymetal	+3.43	467.4	2.989
Gazprom	-1.1	157.24	1.761
Lukoil	-0.42	3907	1.191

(68.9573 rubles – U.S. $1)

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