Russian stocks close flat on mixed external signals

MOSCOW, Jan 25 (PRIME) -- Russian stocks remained almost flat on Wednesday due to mixed signals coming from foreign markets as oil prices fell but all major Western floors rose, analysts said.

The MICEX rose 0.06% to 2,176.00 and the RTS increased 0.38% to 1,159.79.

“It should be noted that the Russian benchmark was trying to follow common world trends discreetly today. Futures for U.S., European and Asian floors were in the green zone today despite a slight uncertainty regarding further actions of U.S. President Donald Trump,” Irina Rogova, an analyst at Forex Club group of companies, said.

“But oil prices became the factor that limited the growth of Russian indices. After yesterday’s data from the American Petroleum Institute, which showed U.S. oil reserves growing, the Brent was under moderate pressure.”

The Brent oil price fell 0.837% to U.S. $54.98 per barrel as of 6.09 p.m. Moscow time, according to the ICE exchange.

“Today the Russian stock market tried to develop Tuesday’s upward dynamics, but the external background was mixed. Sales prevailed on the oil market…but European floors showed a noticeable increase,” Bogdan Zvarich, an analyst at investment holding Finam, said.

Andrei Kochetkov, an analyst at Otkritie Broker, said that shares of largest companies lost some ground today as investors lost hope for hefty dividends due to impressive investment plans of the companies.

Oil major Rosneft lost 1.15% to 383.70 rubles on the background of plans to raise capital expenditures to 1.1 trillion rubles in 2017 from 750 billion rubles in 2016. Gas giant Gazprom fell 1.67% to 147.65 rubles as it has a similar situation: the company has to implement the Turkish Stream project in addition to its Eastern initiatives, Kochetkov said.

Below are the MICEX’ five most active stocks on Wednesday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.01	170.26	7.245
Gazprom	-1.67	147.65	4.543
Lukoil	+0.78	3215.00	2.398
Norilsk Nickel	+0.52	9535.00	1.736
Rosneft	-1.15	383.70	1.626

(59.2186 rubles – U.S. $1)

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