Russian stocks close mixed on oil price consolidation

MOSCOW, Mar 10 (PRIME) – The Russian stock market closed mixed on Friday amid a favorable foreign background and falling oil prices, analysts said.

The MICEX eased 0.01% to 1,973.96 and the RTS rose 0.86% to 1,055.93.

“Russian stocks are supported by hydrocarbon prices consolidation with the Brent oil trading mixed around $52.5 per barrel, and the European stock exchanges adding slightly above 0.5%,” Finam analyst Bogdan Zvarich said.

But Otkritie Broker analyst Andrei Kochetkov believes that it is premature to say the bottom of the downward correction has been reached.

“Conditions pushing the market down have not changed yet. All broken dreams for (higher) dividends (from state-owned companies) and the new U.S. administration must be liquidated for the market to reverse confidently,” the expert said.

Thursday’s biggest losers -- energy grid operator Russian Grids, or Rosseti, and Federal Grid Company of Unified Energy Systems (FGC UES) -- outperformed the market bouncing back by 6.02% and 6.72% to 0.883 rubles and 0.175 rubles, respectively.

Oil producer Bashneft and Territorial Generating Company-1 (TGC-1) were the market outsiders sliding by 3.44% to 3,604 rubles and by 4.71% to 0.014 rubles.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.83%	157.50	8.097
Gazprom	-0.17%	128.78	4.360
FGC UES	+6.72%	0.175	3.776
Rosneft	-1.21%	315.00	2.141
Lukoil	+1.95%	3,028	1.860

(58.8318 rubles – U.S. $1)

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