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Russian stocks close mixed on ruble dynamics, profit taking

MOSCOW, Jun 21 (PRIME) -- The stock market closed mixed on Tuesday as the ruble jump drove the dollar-denominated RTS index higher, while profit-taking on the news that the E.U. is preparing for the next round of anti-Russian sanctions depressed the ruble-denominated MOEX Russia Index, analysts said.

The MOEX Russia Index fell 1.90% to 2,358.81 and the RTS increased 1.65% to 1,379.97.

“The bearish mood prevailed on the national stock market today. The oil and gas sector exerted the main pressure on the market following ruble rapid growth to the highest level in the past several years,” Yegor Zhilnikov, senior analyst at Promsvyazbank, said.

As a result of the ruble jumping by about 1.5 rubles to 54.10 per U.S. dollar, oil companies Lukoil, Rosneft, and Surgutneftegas lost 3.91%, 2.18%, and 1.89%, respectively, and only independent gas producer Novatek continued to rally by rising 2.04% to 998 rubles, he said.

“The Russian stock market didn’t show unified dynamics as it suffered from profit taking in expectations of the new sanctions. The RTS Index showed a new record since February 21 thanks to the strength of the Russian currency,” Veles Capital analyst Yelena Kozhukhova said.

Media report that the E.U. leaders are considering sanctions on new sectors of the Russian economy as part of the next round of sanctions, including the gold producing industry, undermined the shares of Seligdar, Polyus, and Polymetal International, Kozhukhova said.

Gas giant Gazprom also fell by 3.33% to 301.58 rubles on the prospects of another contraction of gas exports in July as the Nord Stream 1 pipeline will be suspended over technical reasons. Also, the Finance Ministry published a bill that would make the company pay 416 billion rubles more of the mineral extraction tax in September–November as the gas prices are very high, she said.

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

Company Change, % Last price, rbl Trading volume, bln rbl
Gazprom -3.33 301.58 15.469
Sberbank -1.67 129.10 9.779
Novatek +2.04 998.00 4.978
Lukoil -3.91 4045.00 2.449
Severstal +0.34 770.60 1.167

(56.1727 rubles – U.S. $1)


21.06.2022 19:10
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Central Bank Official Rate
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EUR 61.2171 +0.2139 29 jul
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Stock Market Indices
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