Russian stocks close mixed, consolidating after Monday rise
MOSCOW, Apr 7 (PRIME) -- Russian stocks closed mixed on Tuesday with the MICEX demonstrating a downward correction to below a psychologically important level of 1,700, while the RTS fall was offset by the ruble strengthening, analyst said.
The MICEX fell 0.29% to 1,695.64 and the RTS increased 0.02% to 971.24.
“Russian indices are correcting after yesterday’s rapid growth… The news background was not influenced by any negative factors – as we expected, the MICEX index faces difficulties trying to break through 1,700,” Andrei Dirgin, head of the analytical department of Alfa-Forex, said.
The fall of the dollar-denominated RTS was technically offset by the ruble strengthening against the dollar to about 55, Natalya Samoilova, analyst at Golden Hills-Kapital said.
Kamaz rose 15.76% to 40.4 rubles, as the truck maker, which already has a car assembly site in Vietnam, expects that its production and sales in the country will increase after an agreement on a free trade zone between Russia and Vietnam is signed.
Uralkali fell 0.93% to 164.6 rubles as the company lowered its potash chloride output by 7.8% on the year to 2.7 million tonnes in January–March.
The main events for the stock market on Wednesday will include negotiations of Russian and Greek political leaders in Moscow and the publication of minutes of a U.S. Fed’s Open Market Committee meeting, which may support stocks as investors expects softer rhetoric, Samoilova said.
Below are the MICEX’ five most active stocks on Tuesday:
| Company | Change, % | Last price, rbl | Trading volume, bln rbl |
|---|---|---|---|
| Sberbank | +0.88 | 69.60 | 15.558 |
| Gazprom | +0.34 | 146.20 | 5.566 |
| Lukoil | -1.42 | 2790.00 | 3.808 |
| VTB | -3.47 | 0.06014 | 2.228 |
| Magnit | +1.01 | 12020.00 | 1.868 |
(56.5161 rubles – U.S. $1)
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