Russian stocks close mixed as oil price falls

MOSCOW, Oct 11 (PRIME) -- The Russian stock market closed mixed on Tuesday as the external background did not provide it with any strong signals, while a slight contraction of oil prices resulted in a more noticeable decrease of the RTS index, analysts said.

The MICEX rose 0.02% to 2,001.42 and the RTS decreased 1.22% to 1,005.48.

The Brent oil price fell 0.778% to U.S. $52.73 per barrel as of 6.09 p.m. Moscow time, according to the ICE exchange.

“The energy market has experienced a downward correction…while dynamics of the European floors, which showed an about 0.2% growth, acted as a positive factor for the market,” which resulted in the fall of the RTS index, but helped the MICEX index stay afloat, Bodgan Zvarich, an analyst at investment company Finam, said.

Irina Rogova, an analyst at the Forex Club group of companies, said that the oil price slid after the International Energy Agency said that world supply increased by 600,000 barrels per day in September.

Vitaly Manzhos, a senior analyst at Bank Obrazovanie, said that the mixed external background has temporarily balanced the Russian stock market, while the easing of the Brent oil price is no threat.

Shares of coal producer Raspadskaya rose 5.3% to 57.78 rubles, while common and preferred shares of metals and mining group Mechel went up 3.60% to 91 rubles and 2.01% to 76.75 rubles. The increase is likely to be the result of a mid-term increase of prices for coking coal, Manzhos said.

Shares of the country’s major truck maker Kamaz rose 2.7% to 54.70 rubles as the company said its truck output increased by 23% on the year to 21,499 units in January–September, Manzhos said.

Retailer Magnit fell 1.33% to 10,351 rubles as investors were dissatisfied with the company’s financial results. Its revenue grew only 13.68% on the year to 84.235 billion rubles in September, and only 14.24% to 786.741 billion rubles in January–September, Manzhos said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.02	151.30	7.033
Gazprom	-0.09	138.98	4.500
Rosneft	+0.29	362.05	2.194
Lukoil	+0.86	3104.00	1.257
Norilsk Nickel	+0.47	9450.00	0.939

(62.3884 rubles – U.S. $1)

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