Russian stocks close mixed on upbeat budget outlook, sanctions

MOSCOW, Jun 7 (PRIME) -- The Russian stock market ended the trading with mixed dynamics on Wednesday on optimistic budget forecasts of the Finance Ministry, worsened geopolitical situation, and the discussion in the E.U. of new sanctions against Russia, analyst said.

The MOEX Russia Index rose 0.50% to 2,694.69 and the RTS decreased 0.22% to 1,035.93.

“The positive dynamics of oil prices and optimistic forecasts of Finance Ministry for an increase in budget revenues in the second half of the year provided the market with a positive impulse,” leading analyst of Freedom Finance Global Natalya Milchakova said.

However, contradictory corporate news, the aggravated geopolitical situation and the discussion in the E.U. of a new package of sanctions against the Russian economy were restraining the buyers' activity, the analyst added.

According to Sofya Kirsanova, portfolio manager at managing company Pervaya, investors were buying out all corrections, but there were no significant drivers for growth.

The Russian stock market retreated from the highs of the day by the end of main trading and did not show a steady trend due to the loss of growth impulse on some of the most liquid shares, Yelena Kozhukhova from Veles Capital said.

The biggest gains by the end of the session were Ozon shares, which continued to grow after the day before the forecast of turnover growth in the current year was raised from 60% to 70%, Kozhukhova said.

The shares of Sovcomflot decreased 1.72% correcting as part of profit taking after earlier sessions' gains, she also said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.11	241.17	14.13
VTB Bank	+2.19	0.022825	7.603
Gazprom	+0.77	164.42	5.065
Lukoil	-0.49	5124.5	4.386
Yandex	+3.39	2402	2.959

(81.2502 rubles – U.S. $1)

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