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Russian stocks close mixed as oil price plummets

MOSCOW, Oct 6 (PRIME) -- Russian stocks closed mixed on Friday as the MICEX index was supported by a favorable external background, while the RTS index was undermined by a ruble that fell following oil prices, analysts said.

The MICEX rose 0.27% to 2,093.86 and the RTS decreased 0.85% to 1,134.30.

“The MICEX opened above 2,090 today, which was a growth driver in itself. Besides that, the world floors were in a moderately positive mood today. Futures for the U.S. stock indices were close to record highs on the news about U.S. President Donald Trump’s reform moving through the Congress. Chinese macrostatistics also added some positive impact, as industrial business activity index rose to a 5-year high there,” Irina Rogova, an analyst at Forex Club, said.

Sofya Kirsanova, an analyst at managing company Raiffeisen Capital, said that the RTS index contracted due to a weaker ruble.

Vitaly Manzhos, a senior risk manager at investment company Nord Capital, said that oil prices, the backbone of the Russian economy, are under pressure because Trump may withdraw the U.S. from the Iranian nuclear program agreement. “This creates the possibility for a restart of international sanctions against Iran, whose share in the world’s oil output is close to 5%,” he said.

Shares of top bank Sberbank grew 0.22% to 194.16 rubles on the news about a nearly 32% increase of its net profit, Manzhos said.

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

Company Change, % Last price, rbl Trading volume, bln rbl
Sberbank +0.22 194.16 10.227
Gazprom -0.02 123.47 3.757
Lukoil +0.20 3060.00 1.337
Norilsk Nickel -0.15 10313.00 1.224
Moscow Exchange +0.22 119.69 1.142

(57.5811 rubles – U.S. $1)

End

06.10.2017 19:10