Russian stocks close mixed amid profit-taking, geopolitical risks

MOSCOW, May 28 (PRIME) -- The Russian stock market edged up and managed to hit new highs at the beginning of the day on Friday, but bounced back to close mixed and almost flat amid persisting geopolitical risks and investors’ wish to take profit following May’s rise, analysts said.  

The MOEX Russia Index fell 0.22% to 3,730.55 and the RTS increased 0.01% to 1,603.79.

“The MOEX Russia and the RTS indices failed to consolidate near the highs reached at the beginning of the trading session on Friday, but tried to stabilize… The benchmarks are close to the short-term overbought zones,” Veles Broker analyst Yelena Kozhukhova said.

Restrained optimism prevailed on foreign stock exchanges, and geopolitical risks are still the major danger for both the ruble and the Russian stock market, she added.

Otkritie Broker analyst Andrei Kochetkov said that the MOEX Russia Index has grown by over 5% since the beginning of May, marking the month as efficient despite the traditions, but some investors wish to take profit following the advance.

Kozhukhova said that fertilizers producer PhosAgro was among the best performers ahead of its dividend record date, scheduled for the beginning of June.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.9	309.9	10.274
Gazprom	-0.34	262.06	8.564
Norilsk Nickel	+0.95	27250	7.969
Lukoil	-0.7	5950	4.055
Severstal	-0.05	1755.4	3.567

(73.4580 rubles – U.S. $1)

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