Russian stocks close flat on strengthening of oil, gold prices

MOSCOW, Dec 13 (PRIME) -- The Russian stock market was falling during most of the day on Tuesday, but managed to recover by the end of the trading session to remain almost flat from the opening thanks to the support of crude and gold prices, analysts said.

The MOEX Russia Index grew 0.06% to 2,174.38 and the RTS increased 0.01% to 1,088.97.

“The Russian stock market continued to fall during the day on Tuesday… The market is mainly pressured by the geopolitical component,” management company Alfa-Capital’s senior trader Vladislav Silayev said.

Veles Broker analyst Yelena Kozhukhova said that the MOEX Russia Index and the RTS index stayed above the support lines of 2,150 and 1,080 and managed to bounce back from the day’s lowest by the end of the trading session.

Freedom Finance Global’s Senior Analyst Natalya Milchakova said that the dynamics of the U.S. stock exchanges were positive, the Brent oil price surged by 2.42% to U.S. $79.88 per barrel, and the gold price added 2.08% to $1,830 per troy ounce.

She added that gold producers Polyus and Polymetal were among the top gainers adding 3.53% and 2.30%, respectively.

Silayev said that metal companies underperformed due to the Finance Ministry’s plans to raise the mineral extraction tax on iron ore.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.84	138.31	6.761
Polyus	+3.32	7664.5	2.661
Magnit	-0.47	4538.5	2.063
Lukoil	-0.19	4,575	1.754
Gazprom	-0.12	162.69	1.184

(62.7674 rubles – U.S. $1)

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