Russian stocks close mixed as oil price falls, ruble weakens

MOSCOW, Jul 5 (PRIME) -- The Russian stock market closed with marginal dynamics on Wednesday because the effect of an oil price decline to U.S. $48 per barrel was balanced by a weakened ruble which supported exporters, analysts said.

The MICEX rose 0.21% to 1,921.38 and the RTS fell 0.95% to 1,007.88.

“The Russian market entered a consolidation mode after two days of growth. The MICEX is wavering close to the opening level, trying to find the vector. There is nowhere to take the inspiration from. The Old World markets are also seeing little changes, U.S. futures have not re-awakened after the holiday, Brent loses more than 1% after another attempt at a rise,” Igor Kovalyov, an analyst at InstaForex, said.

Sofya Kirsanova, an analyst at managing company Raiffeisen Capital, said that the MICEX was slightly rising and the RTS falling due to the ruble weakening.

The shares of Russian exporters, in particular metals producers, were supported by the ruble dynamics. Metals companies also gained because of rising coking coal, iron ore and rolled stock prices, Kirsanova said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.29	148.96	7.176
Gazprom	-0.02	122.7	3.205
Lukoil	+0.63	2951.5	1.729
Rosneft	-1.56	327.2	1.327
Norilsk Nickel	+1.11	8288	1.252

(59.2295 rubles – U.S. $1)

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