Russian stocks close mixed on sanctions threats, unstable oil

MOSCOW, Jul 24 (PRIME) -- The Russian stock market closed mixed on Monday, pressured by crude prices stucking below $49 per barrel and new sanctions threats from both the U.S. and Europe, analysts said.

The MICEX grew 0.34% to 1,931.75 and the RTS fell 1.09% to 1,013.69.

“The news background could be called negative, especially considering the new statements from Washington D.C., where the White House and the legislators have agreed on the new sanctions against Russia,” Otkritie Broker analyst Andrei Kochetkov said.

At the same time, the E.U. was reported to be discussing scaling up its sanctions against Russia on Germany’s proposal because of a scandal surrounding the shipment of Siemens-produced turbines to Crimea.

Sergei Melnikov, chief analyst at Forex broker Global FX, said that the Brent oil price consolidated around a $48.6 per barrel mark after an OPEC+ ministerial monitoring committee had met to recommend expanding an oil production cut deal, if necessary, but said it sees no need in additional output cuts.

Russian metal stocks outperformed the market due to a weakening ruble. Mining company Norilsk Nickel rose 2.35% to 8,585 rubles, steelmaker Severstal grew 2.09% to 837.1 rubles and aluminum giant UC RUSAL surged 0.91% to 31.21 rubles.

Largest children’s goods retailer Detsky Mir soared 0.97% to 89.8 rubles after reporting a 24.8% advance of consolidated revenue in January–June.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.48%	161.33	9.239
Norilsk Nickel	+2.35%	8585	2.963
Gazprom	+0.18%	119.17	2.712
Lukoil	-0.55%	2826.5	1.929
ALROSA	-0.65%	85.3	1.390

(58.9325 rubles – U.S. $1)

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