Russian stocks close mixed amid stronger ruble, growing oil

MOSCOW, Jan 17 (PRIME) -- Russian stocks closed mixed on Tuesday amid a significant strengthening of the ruble and growing oil prices, analysts said.

The MICEX decreased 0.47% to 2,178.73 and the RTS grew 0.47% to 1,156.47.

“The Russian stock market remains under pressure of profit taking in expectation of the opening of the U.S. stock market, which, based on S&P500 futures, can demonstrate reduction. However, a strong oil market and the dollar actively depreciating against European currencies and gold amid an absence of strong negative from a speech by the British Prime Minister Theresa May allowed the MICEX index to retain the level of 2,170 points and partially restore,” Promsvyazbank analyst Yevgeny Lokhtyukhov said.

The dollar-denominated RTS index increased supported by the strengthening of the Russian ruble propelled by a tax period and growing oil prices, analysts said.

The oil market grew amid the depreciated dollar and Saudi Arabian Oil Minister Khalid Al-Falih saying that oil producing countries decrease production ahead of schedule and the balance on the oil market will be reached in the second half of 2017, Otkritie Broker analyst Andrei Kochetkov said.

The stronger ruble put pressure on shares of exporters, with coal producer Raspadskaya losing 2.42%, metals and mining giant Mechel falling 0.74%, and fertilizer producer PhosAgro decreasing 0.83%, Kochetkov said. Gas giant Gazprom shares fell 1.39%, oil major Rosneft lost 0.13, oil major Lukoil fell 0.22, metals giant Norilsk Nickel decreased 1.5%, and steel maker Severstal lost 0.24%.

Real estate developer LSR Group fell 2.24% despite reporting that its sales grew 29% to 70.6 billion rubles in 2016.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.8	165.98	7.584
Gazprom	-1.39	153.65	3.998
Lukoil	-0.22	3233.00	1.905
Norilsk Nickel	-1.5	9615.00	1.637
Rosneft	-0.13	391.70	1.454

(59.6067 rubles – U.S. $1)

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