Russian stocks close mixed as Trump fuels geopolitical tensions

MOSCOW, Apr 11 (PRIME) -- Russian stocks closed mixed on Wednesday as U.S. President Donald Trump’s comment about the conflict in Syria prompted an increase in oil prices and a slump of the ruble supporting shares of exporters, analysts said.

The MOEX Russia Index rose 0.85% to 2,192.15 and the RTS decreased 0.67% to 1,083.53.

The market mood in Europe and Russia was positive until Trump called for Russia to prepare for a missile strike in Syria. “After the statement, the investment mood deteriorated sharply, and not just in Russia…Oil prices skyrocketed to record highs since 2015, but the Russian currency plunged due to large-scale sales on the Russian debt market,” Vasily Oleinik, an expert at investment company Finam, said.

The Brent oil price jumped 2.054% to U.S. $72.53 per barrel as of 6.12 p.m. Moscow time, according to the ICE exchange. The ruble has lost 62.25 kopecks to 63.6450 per U.S. dollar by 6.08 p.m.

Andrei Kochetkov, an analyst at Otkritie Broker, said that the Russian market priced in the depreciation of the ruble. “Ruble weakening while the oil prices are high and metals prices are rising is rather good for Russian companies,” he said.

The shares of exporters supported the MOEX Russia Index, Kochetkov said. Gas giant Gazprom rose 2.45% to 145.27 rubles, oil companies Lukoil, Rosneft, and Surgutneftegas increased 4.36% to 4,070 rubles, 4.85% to 324 rubles, and 0.53% to 29.25 rubles, respectively, and metals giant Norilsk Nickel gained 0.80% to 9,888 rubles.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-3.17	208.00	39.538
Gazprom	+2.45	145.27	8.916
Lukoil	+4.36	4070.00	8.206
Rosneft	+4.85	324.00	5.401
Norilsk Nickel	+0.80	9888.00	4.130

(62.3699 rubles – U.S. $1)

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