Russian stocks close mixed on uncertain background, correcting oil

MOSCOW, Jul 7 (PRIME) -- The Russian stock market opened the day higher on Wednesday, but reversed later to close mixed in light of global volatility and deflating oil, analysts said.

The MOEX Russia Index grew 0.28% to 3,895.10 and the RTS decreased 0.22% to 1,641.42.

“The MOEX Russia and the RTS indices bounced back downwards from the day’s highest, which proves investors’ uncertainty and risks of a further fall… Global volatility undermines a generally optimistic sentiment on the Russian bourses,” Veles Broker analyst Yelena Kozhukhova said.

She added that there was no single movement on the world’s stock exchanges, but investors tended to take profits in crude and U.S. shares, which pressured risky assets.

The dynamics of the crude market were negative with the nearest Brent and WTI futures losing around 2% amid U.S. dollar strengthening.

Otkritie Research analyst Mikhail Shulgin attributed the fall to uncertainty about the future of the OPEC+ oil production reduction agreement beyond July.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	+1.07	296.6	18.782
Rosneft	+1.89	581.8	8.200
Sberbank	-0.01	303.31	6.456
Lukoil	-0.96	6763.5	6.012
Yandex	+2.68	5388	4.921

(73.2660 rubles – U.S. $1)

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