Russian stocks close mixed on unfavorable environ, ruble growth

MOSCOW, Apr 23 (PRIME) -- The Russian stock market closed mixed on Friday as the unfavorable external background triggered sales, while the central bank’s decision to raise the key rate supported the ruble and the RTS index, analysts said.

The MOEX Russia Index fell 0.09% to 3,597.17 and the RTS increased 0.67% to 1,511.85.

“The day was bad for the Russian optimists since the very beginning. Sellers dominated the market because of the weakness of the European indices. The increase of the key rate to 5% by the central bank also adjusted the estimate of attractiveness of dividend stories,” Andrei Kochetkov, leading analyst for global research at Otkritie Broker, said.

Veles Capital’s analyst Yelena Kozhukhova said that the RTS Index started growing after the ruble strengthened following the central bank’s decision to raise the key rate.

Kochetkov also said that oil major Rosneft and independent gas producer Novatek were among the loss leaders falling by 0.66% to 538 rubles and 1.04% to 1,428.60 rubles, respectively. Investors were disappointed with the recommendation of Rosneft’s board of directors to pay only 6.94 rubles per share in dividends for 2020 and with Novatek’s plan to increase production by a meager amount in 2021, he said.

Kozhukhova said that shares of oil and gas pipe producer TMK plunged by XX% to XX rubles due to a dividend cut-off.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.28	293.00	11.687
VTB	+7.29	0.0515	8.689
Gazprom	+0.71	232.57	7.862
Norilsk Nickel	+0.57	25836.00	7.861
Lukoil	-0.82	5950.00	4.938

(76.4217 rubles – U.S. $1)

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