Russian stocks close mixed on lower oil prices, higher ruble

MOSCOW, Jul 18 (PRIME) -- Russian stocks closed mixed on Monday, because the ruble-denominated MICEX was put under pressure by lower oil prices, while the dollar-denominated RTS was technically supported by a ruble rise against the U.S. dollar, analysts said.

The MICEX fell 0.25% to 1,936.07 and the RTS increased 0.59% to 969.35.

“Oil prices were under pressure again today. The market takes lead from the figures of the U.S. drilling rigs released by Baker Hughes on Friday (July 15). Their number rose by 6 units that raises concerns about U.S. production volumes again,” Forex Club analyst Irina Rogova said.

The ruble strengthened in spite of weak oil prices because risky assets are still attractive for investors, as fears concerning consequences of the U.K.’s Brexit vote faded away, Rogova said. Gleb Zadoya, head of research department at Analitika Online, said that the ruble rose due to a higher demand for the national currency during a tax period.

Vitaly Manzhos, a senior analyst at Bank Obrazovanie, said that the RTS was supported by the ruble growth.

The thin trade on the Russian stock market was likely caused by the news concerning political tensions in Turkey, Kazakhstan and Armenia, the analyst said.

Shares of oil and gas company Surgutneftegas went ex-dividend and fell 5% to 34.2 rubles per preferred share and 0.88% to 32.66 rubles per common share.

Shares of uncut diamond mining giant ALROSA, which were also traded ex-dividend, decreased 2.13% to 69 rubles.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Surgutneftegas pref	-5.00	34.20	6.900
Sberbank	+1.31	139.93	6.530
Gazprom	-1.04	145.84	4.821
Magnit	-2.23	9250.00	1.421
Lukoil	+0.23	2799.00	1.399

(63.1697 rubles – U.S. $1)

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