Russian stocks close mixed amid uncertain external background

MOSCOW, May 12 (PRIME) -- The Russian stock market closed mixed and almost flat on Wednesday in light of an uncertain external background, but supported by strong crude prices, analysts said.

The MOEX Russia Index grew 0.06% to 3,654.14 and the RTS decreased 0.3% to 1,548.02.

“The MOEX Russia and the RTS indices were seen almost flat by the end of the trading session, supported from a steep fall largely by high crude prices,” Veles Broker analyst Yelena Kozhukhova said.

She added that the dynamics were linked to risk avoidance on the U.S. markets. The U.S. had released unsound inflation data, which triggered sales in local stocks.

Kozhukhova also said that the Russian market is additionally backed by expectations of normalization of the geopolitical situation after a meeting of President Vladimir Putin with his U.S. counterpart Joe Biden in June.

Otkritie Broker analyst Andrei Kochetkov said that the financial sector of the Moscow Exchange was among the worst performers with Sberbank losing 1.27% and TCS Group falling 3.62%.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-1.27	303.27	15.622
Lukoil	+2.61	6178	8.132
Norilsk Nickel	+0.19	27390	7.256
Gazprom	+0.66	244.1	7.178
Polymetal	+1.11	1696.5	4.273

(74.1567 rubles – U.S. $1)

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