Russian stocks close mixed amid oil jump, fall on global floors

MOSCOW, Sep 8 (PRIME) -- Russian stocks closed mixed on Thursday, with the MICEX correcting down after a 4-day growth amid a drop on the U.S. and European floors and the RTS rising on growing oil prices and a stronger ruble, analysts said.

The MICEX fell 0.15% to 2,050.77 and the RTS gained 0.73% to 1,013.11.

The European Central Bank’s (ECB) decision not to expand the asset purchase program and keep the loan interest rate “at the current zero level” was among factors that led to a decline of the MICEX index, Raiffeisen Capital analyst Sofya Kirsanova said.

“Russian indices were on one wave with global floors today. The U.S. and European stock index futures are falling after (ECB chief) Mario Draghi was not gentle enough during a news conference after publication of decisions on the ECB monetary policy. The regulator kept it unchanged. And the chief of ECB said that the expansion of the stimulus program is not needed now,” Forex Club analyst Irina Rogova said. As a result, the MICEX was put under significant pressure, she said.

The growth of the dollar-denominated RTS index was supported by a strengthened ruble, analysts said.

The Brent oil price jumped to U.S. $49.59 per barrel as the Russian trading closed after the Energy Ministry said the U.S. oil reserves fell 2.8% over the previous week to 511.4 million barrels.

Metals and mining group Mechel continued growth on Thursday after a recent release of solid financial results for January–June, with common shares soaring 12.75% and preferred shares gaining 7.21%, Otkritie Broker analyst Andrei Kochetkov said.

Shares of gas giant Gazprom corrected down by 1.14% after a 2-day growth, which was caused by President Vladimir Putin saying the company is undervalued, Vitaly Manzhos, a senior analyst at Bank Obrazovanie, said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.57	153.45	9.978
Gazprom	-1.14	141.45	4.148
Lukoil	+0.78	3108.00	2.100
Surgutneftegas pref	-1.14	31.22	1.535
Rosneft	+0.21	364.75	1.222

(64.3804 rubles – U.S. $1)

End