Russian stocks close mixed on strong oil, bad environment

MOSCOW, Apr 26 (PRIME) -- Russian stocks closed mixed on Tuesday as the oil price increase was too weak to help the market break the influence of a moderately unfavorable external background, analysts said.

The MICEX fell 0.46% to 1,946.55 and the RTS increased 0.38% to 931.19.

“The Russian indices are still under the influence of a negative external background. Futures for the U.S., European, and Asian stocks are showing a moderate contraction. It is largely based on uncertainty regarding tomorrow’s meeting of the U.S. Federal Reserve System, when much will depend on the regulator’s comments,” Irina Rogova, an analyst at Forex Club group of companies, said.

The Brent oil price went up 2.07% to U.S. $45.42 per barrel as of 6.06 p.m. Moscow time, according to the ICE exchange.

“The fall of many liquid shares exceeded 2%, which exceeds the range of an intra-day flat movement. This means that a logical downward correction has begun at the market formed by a significant mid-term growth,” Vitaly Manzhos, senior analyst at Bank Obrazovanie, said.

Retailer Magnit lost 3.77% to 9,180 rubles after the publication of a 13.03% plunge of net profit for January–March last week, the first decrease of profit ever, Andrei Kochetkov, an analyst at Otkritie Broker, said.

Gas giant Gazprom rose 1.68% to 163 rubles as the company may raise its previous dividend recommendation after a recent government ruling to pay 50% of net profit in dividends, Manzhos said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.32	119.70	10.368
Gazprom	+1.68	163.00	5.617
Magnit	-3.77	9180.00	4.256
Lukoil	-2.00	2796.00	2.152
Norilsk Nickel	+1.24	9750.00	1.953

(66.6295 rubles – U.S. $1)

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