Russian stocks close mixed on OPEC output cut, ruble weakening

MOSCOW, Apr 3 (PRIME) -- The Russian stock market closed mixed on Monday with the market receiving support from the oil prices that grew after the OPEC+ alliance to cut its combined oil output further while the ruble’s fall undermined the RTS Index, analysts said.

The MOEX Russia Index rose 0.97% to 2,473.22 and the RTS decreased 0.80% to 988.80.

“The bullish mood of investors prevailed on the national stock market today, and the oil and gas sector was the leader. The decision of OPEC countries to reduce their oil production boosted the oil prices significantly, and the shares of Rosneft, Lukoil, and other oil giants reacted to that,” Yegor Zhulnikov, senior analyst at Promsvyazbank, said.

Rosneft gained 2.13% to 389 rubles, while Lukoil rose by 2.26% to 4,451 rubles.

Veles Capital’s analyst Yelena Kozhukhova said that the weakening of the ruble against the U.S. dollar resulted in mixed dynamics of the Russian indices.

Kozhukhova also said that the shares of Russia’s second largest bank VTB rose by 9.12% to 0.019795 rubles. Investors have high hopes for the bank’s Wednesday release of a financial report calculated under Russian Accounting Standards for 2022, as well as the release of the key financial figures for the year and preliminary results for January–February 2023 calculated under International Financial Reporting Standards.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.65	215.20	10.999
VTB	+9.12	0.019795	6.383
Lukoil	+2.26	4451.00	4.638
RussNeft	+8.06	144.80	3.892
Gazprom	-0.05	169.75	3.553

(77.3233 rubles – U.S. $1)

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