Russian stocks close mixed on higher ruble, Brent, EU stocks

MOSCOW, Apr 9 (PRIME) -- Russian stocks closed mixed on Thursday due to the ruble sharp increase against the U.S. dollar and the euro, and supported by rising European indices and an upward consolidation of prices for oil, the backbone of the country’s economy, analysts said.

The MICEX fell 0.95% to 1,667.60 and the RTS increased 1.53% to 1,003.42.

“Such a large difference in key stock indices was formed due to the sharp strengthening of the Russian currency, which is demonstrating significant growth against the main currencies,” Anton Soroko, analyst at Finam, said.

The external background was also favorable for the rising market, as European trading floors grew, Vasily Tanurkov, analyst at Veles Kapital, said.

Brent prices rebounded to over U.S. $ 56.5 per barrel after their decrease on Wednesday that also supported the market, the analyst said.

The MICEX continued a downward trend, taking its lead from yesterday’s oil price fall, Sofya Kirsanova, analyst at Raiffeisen Capital, said.

Mechel fell 5.14% to 67.85 rubles after the Moscow Arbitration Court ordered the troubled metals and mining group to redeem 50.2 billion rubles in debt to VTB Bank.

Growth leaders included banks, which rose on the ruble strengthening, according to the analyst. In particular, Sberbank rose 3.75% to 72 rubles.

TMK rose 3.04% to 47.4 rubles following statements by Transneft’s managing board that prices for pipes may rise 25% from April–June, Kirsanova said.

Rusal fell 2.22% to 361.2 rubles as U.S. aluminum giant Alcoa forecast that excessive supply on the aluminum market may amount to 326,000 tonnes in 2015, the analyst said.

Below are the MICEX’ five most active stocks on Thursday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+3.75	72.00	13.305
Gazprom	+0.56	148.10	9.921
VTB	-2.02	0.05879	6.028
Norilsk Nickel	-2.46	9740.00	4.478
Lukoil	-1.71	2707.80	3.758

(54.0270 rubles – U.S. $1)

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