Russian stocks close mixed amid rising oil prices, weak ruble

MOSCOW, Sep 12 (PRIME) -- Russian stocks closed mixed on Tuesday amid growing oil prices and a depreciated ruble, analysts said.  

The MICEX rose 0.72% to 2,058.80 and the RTS decreased 0.22% to 1,124.23.

Forex Club analyst Irina Rogova said the MICEX index was supported by several factors. “The first one – a general positive sentiment on global markets. The second one – the ruble’s depreciation, which benefits companies-exporters. The third – expectations of the central bank’s key rate cut at the end of this week. The fourth one – resumed growth of oil prices. The fifth one – technical, the MICEX has already passed the resistance at the notch of 2,030 points and is moving to the area of next barrier of 2,065 points,” Rogova said.

The RTS index fell on currency factors, she said.

Finam expert Vasily Oleinik said, “From the technical point of view, the situation at the MICEX index looks neutral. The index has almost come close to the important level of resistance of 2,060 points, where correction should be expected.”

Top lender Sberbank’s shares fell 0.62% after renewing a historic high of 190 rubles per share on Monday, Oleinik said.

CEO German Gref saying that Sberbank created 100% reserves on debts of Croatian agricultural holding Agrokor and is ready for long court proceedings was an additional negative factor for the bank’s shares.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.62	189.32	9.574
Gazprom	+0.82	121.99	3.310
Norilsk Nickel	+2.07	9867.00	1.821
Rosneft	+0.13	314.60	1.768
Sberbank pref	-1.16	160.48	1.527

(57.1694 rubles – U.S. $1)

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