MOSCOW, Jan 15 (PRIME) -- The Russian stock market opened higher on Tuesday due to a favorable external background, but lost its optimism later in the day to close almost flat pressured by unstable oil prices, analysts said.
The MOEX Russia Index eased 0.02% to 2,439.55 and the RTS rose 0.08% to 1,148.03.
“The Russian stock market edged up in the morning thanks to rising Asian markets and the reported plans of China’s government on steps to support the economy including lower taxes for the businesses… the optimism faded by midday on the back of deflating oil and weak Germany’s statistics,” Veles Capital analysts said.
The MOEX Russia Index tried to counter the losses later in the day, but failed to move to the green territory, the analysts added.
Analyst at Freedom Finance Anastasia Sosnova said the news from China was also supportive for crude prices pushing the Brent oil to above U.S. $60 by the end of the trade session in Russia.
Aluminum giant UC RUSAL was again among the biggest losers falling 2.3% to 30.150 rubles on threats that U.S. Congress may not lift sanctions against the company.
Below are the MOEX Russia Index’s five most active stocks on Tuesday:
| Company | Change, % | Last price, rbl | Trading volume, bln rbl |
|---|---|---|---|
| Sberbank | +0.61 | 198 | 10.511 |
| Gazprom | -1.45 | 158.15 | 3.322 |
| Lukoil | -0.1 | 5195 | 3.172 |
| Norilsk Nickel | 0 | 13389 | 1.869 |
| Magnit | +3.42 | 3920 | 1.793 |
(67.1920 rubles – U.S. $1)
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