Russian stocks close mixed on ruble fall, sanction talks

MOSCOW, Nov 17 (PRIME) -- The Russian stock market closed mixed on Friday mainly because of the ruble’s decrease and on the news about the new E.U. sanction package, analysts said.

The MOEX Russia Index rose by 0.54% to 3,206.34 and the RTS decreased by 0.63% to 1,122.10.

“The ruble segment of the Russian stock market switched into the green zone at the end of the trade on Friday because of currency dynamics … The MOEX Russia Index and the RTS Index showed mixed dynamics, and the ruble indicator climbed back from the support level of 3,190 again as the Russian currency U-turned,” Veles Capital analyst Yelena Kozhukhova said.

Other than that, the background was positive for the market because the European and U.S. stock indices rose. The European investors were pleased with the fact that economic statistics confirmed inflation slowdown to 2.9% from 4.3%, while the U.S. investors still priced in the consumer and producer price inflation, she said

“The foreign stock floors tried to return to purchases on Friday and end the week optimistically and with hopes that the cycle of the monetary policy toughening by the U.S. Federal Reserve System and the European Central Bank has ended,” Kozhukhova said.

Even the Brent oil price started growing in an upward correction, she added.

Natalya Milchakova from Freedom Finance Global said that the Russian market was under the influence of the news about the next package of anti-Russian sanctions of the E.U.

Another Freedom Finance Global’s analyst Vladimir Chernov said that oil company Surgutneftegas, the only supplier of oil to Pakistan, grew by 3.34% to 32.215 rubles on the news about expansion of the exports to the country and preparation of another long-term contract.

Precious metals producer Polyus and Polymetal rose by 0.79% to 11,296 rubles and by 0.93% to 531.60 rubles, respectively, following a rise in the price for gold and silver, Chernov said.

Kozhukhova also said that the shares of metals and mining group Mechel fell by 1.44% to 326.55 rubles in correction after growth in several previous trading sessions.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Mechel ords	-1.44	326.55	14.595
Sberbank	+0.82	282.00	7.843
Lukoil	+1.30	7228.50	5.033
Surgutneftegas prefs	+3.18	59.00	4.646
Mechel prefs	-0.66	373.80	3.624

(88.9466 rubles – U.S. $1)

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