Russian stocks close mixed on oil dynamics, falling ruble

MOSCOW, Aug 26 (PRIME) -- Russian stocks closed mixed on Wednesday as the oil price fell again, dragging the ruble and the RTS index down, analysts said.

The MICEX rose 0.17% to 1,660.95 and RTS decreased 0.51% to 754.61.

“Oil prices continue their fall…The market does not react optimistically to the publications about falling U.S. commercial oil stocks anymore, because oil production level is maintained high at levels,” Sofya Kirsanova, analyst at Raiffeisen Capital, said.

She said that the price fell even though commercial stocks contracted by 5.5 million barrels instead of an expected 1.45 million barrel growth.

The Brent oil price lost 0.302% as of 6.00 p.m. Moscow time, according to the ICE exchange.

“The Russian market remained close to neutral on the MICEX index but slightly weakened on the RTS index due to the ruble’s decrease,” Vasily Tanurkov, deputy head of stock market analytic department at Veles Capital, said.

Fertilizer maker Uralkali outperformed the market and gained 2.98% to 209.35 rubles as investors still reacted to the news of a new share buyback at $3.2.

Electronic goods retailer M.Video also ended in the green zone rising 0.62% to 193.60 rubles after a report that its net profit under International Financial Reporting Standards more than doubled in January–June.

Agricultural holding Razgulay Group increased 6.94% to 12.02 rubles under a rebound from recent mid-term lows, supported by the news that the company has harvested all grain.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.30	71.00	9.137
Gazprom	+0.08	140.51	4.844
Lukoil	-1.09	2355.00	2.990
Norilsk Nickel	+2.17	10290.00	2.038
Uralkali	+2.98	209.35	1.951

(69.9461 rubles – U.S. $1)

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