Russian stocks close mixed as ruble rate jumps

MOSCOW, Aug 14 (PRIME) -- Russian stocks closed mixed on Tuesday as a significant increase of the ruble supported the dollar-denominated RTS Index but undermined the ruble-denominated MOEX Russia Index, analysts said.

The MOEX Russia Index fell 0.12% to 2,282.88 and the RTS increased 2.05% to 1,081.50.

“It looks like a very strong increase of the RTS Index happened only due to a correctional strengthening of the ruble against the U.S. dollar. Speaking of the less mobile ruble-denominated MOEX Russia Index, it slid into the red zone after a short period of growth in the morning,” Vitaly Manzhos, a senior risk manager at investment company Algo Capital, said.

Andrei Kochetkov, a senior analyst at Otkritie Broker, said that foreign markets rose pushing the ruble-denominated assets higher in the first half of the day, but a 1.5% strengthening of the ruble became a restricting factor.

Kochetkov said that the ruble strengthening resulted in sales of exporting companies shares, with gas giant Gazprom, oil major Lukoil, and steelmaker Novolipetsk Steel (NLMK) losing 1.16%, 1.78%, and 0.27%, respectively.

Manzhos also said that global depositary receipts of retailer X5 Retail Group fell 2.52% as the company sent mixed signals with its financial results. Its net profit fell 16% on the year in April–June, as calculated under International Financial Reporting Standards (IFRS), but revenue grew 19.3%.

Ivan Marchena, an analyst at Forex Club group of companies, said that Vozrozhdenie Bank jumped 17.3% after VTB Bank said it will purchase at least 75% in it.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.45	192.76	15.859
Lukoil	-1.78	4460.00	3.395
Gazprom	-1.16	141.24	3.162
Norilsk Nickel	-0.14	10990.00	2.721
ALROSA	+0.84	97.00	1.630

(68.2234 rubles – U.S. $1)

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