Russian stocks close mixed as background prompts uncertainty

MOSCOW, Feb 3 (PRIME) – The Russian stocks closed mixed on Monday as the external background provided the market with multidirectional signals, analysts said.

The MOEX Russia Index fell 0.19% to 3,070.84 and the RTS increased 0.27% to 1,521.16.

“There was no common the mood at the international stock and commodity markets at the beginning of the week. The appetite for purchases grew slightly, while the oil prices were still in the red zone, even though the commodity market may soon receive support from the OPEC+ deal,” Yelena Kozhukhova, analyst at Veles Capital, said.

The U.S. stock indices grew by 1–1.5% by the Russian market’s closure, and the Euro Stoxx 50 index increased by about 0.6%, Kozhukhova said.

The Brent oil price lost 1.908% to U.S. $55.56 per barrel as of 6.35 p.m. Moscow time, according to the ICE exchange.

“On Monday, the Russian stock market showed wavering dynamics primarily due to the negative impact from the external background. The global risk appetite is still subdued due to the uncertainty about the coronavirus outbreak. At the same time, the current market mood can be seen as wait-and-see, and the players are keeping a close eye on the situation,” Alexander Bakhtin, investment strategist at BCS Premier, said.

The Chinese bourses fell by about 8%, but it was expected as they were pricing in the accumulated market fears following a week of downtime due to the holidays. The negative impact was neutralized by the European floors that were in the green today, Bakhtin said.

Kozhukhova also said that sales prevailed in precious metals producers Polymetal International and Polyus, which previously played the role of defensive assets. Polymetal fell 3.67% to 1,042.50 rubles, and Polyus lost 1.49% to 7,698 rubles.

Dmitry Bedenkov, head of the research department of investment company Russ-Invest, said that the shares of fertilizer producer PhosAgro fell by 1.78% to 2,425 rubles due to a dividend cut-off.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Lukoil	+0.67	6594.50	17.633
Sberbank	+0.71	253.99	13.364
Gazprom	+0.41	227.64	12.317
Norilsk Nickel	-1.88	20410.00	4.620
Surgutneftegas	-3.45	44.455	4.036

(63.1385 rubles – U.S. $1)

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