Russian stocks close mixed on US-China dispute, econ statistics

MOSCOW, Jul 24 (PRIME) – The Russian stocks closed mixed on Friday as the foreign bourses fell on a new twist of a U.S.–China standoff, while the E.U economic statistics and the oil prices supported the market, analysts said.

The MOEX Russia Index rose by 0.40% to 2,863.12 and the RTS decreased by 0.45% to 1,255.98.

“The beginning of day on the Russian market was spent under the guidance of unfavorable dynamics of the Asian floors. Worsening of the U.S.–China relations strengthens the risks of both destruction of the trade deal and disruption of global economic growth. But the situation changed noticeably when the European business activity statistics was published to outperform expectations,” Andrei Kochetkov, lead analyst for global research at Otkritie Broker, said.

Yelena Kozhukhova, analyst at Veles Capital, said that the European statistics improved the external background for the Russian market, and even the futures for the Brent and WTI oil switched into the green zone for a short period.

Valery Yemelyanov, analyst at Freedom Finance, also said that China’s retaliatory demand to close the U.S. consulate in Chengdu triggered sales and profit taking all around the world as investors ran for a safe heaven. The Russian market looked better than the Western floors, but did not manage to avoid falling.

Yemelyanov also said that shares of gold companies Polyus and Polymetal gained 4.35% to 15,128.50 rubles and 2.35% to 1,675 rubles, respectively. Gold companies have been rising throughout the whole week in line with the growing gold prices, which climbed above the psychologically important mark of U.S. $1,900 per ounce for the first time since September 2011.

Shares of hydropower giant RusHydro fell by 2.63% to 0.7381 rubles possibly because the company disappeared from an updated privatization list of the government. Media reported that the authorities don’t want to reduce their stake in the company, and the market could have been upset by that, he said.

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

Òàáëèöà áåç íàçâàíèÿ

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.67	216.86	10.107
Norilsk Nickel	+1.48	19002.00	6.496
Gazprom	+0.38	185.40	5.446
Lukoil	+0.20	4984.00	5.441
Polyus	+4.35	15128.50	4.816

(70.9630 rubles – U.S. $1)

End