Russian stocks close nearly flat on small oil price, ruble growth

MOSCOW, Jul 7 (PRIME) -- The Russian stock market closed with marginal dynamics on Tuesday on the back of a small growth of oil prices and the ruble, analysts said.

The MOEX Russia Index fell 0.35% to 2,825.21, and the RTS index rose 0.06% to 1,247.83.

"RTS traded at the top of the 1,230–1,250 range, the level of the last session. The MOEX Russia Index stuck at 2,810–2,830, which also repeats the previous day’s dynamics," Valery Yemelyanov, analyst at investment company Freedom Finance said.

Yelena Kozhukhova, analyst at investment company Veles Capital, said that the oil price dynamics was moderately negative during the day as Brent and WTI futures decreased by 1.5%. But in the evening the futures recovered to add 0.5%.

Investors were waiting for new drivers as the prices approached the June peak, and there are hopes that the U.S. oil reserves fell by 3.4 million barrels last week. The U.S. Department of Energy will release a report on Wednesday, the analyst said.

The European markets were moderately negative as the market participants took profits after Germany reported a lower than expected growth of industrial output in May, 7.8% on the month, the analyst said.

The U.S. stock market futures fell moderately, and since no important statistics were expected, the market focused on high virus contagion levels, Kozhukhova said.

Yemelyanov said that non-ferrous metal makers grew on the back of a gold price increase. 

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Norilsk Nickel	+1.63	18558	9.582
Sberbank	-1.49	211.41	9.040
Gazprom	-0.82	198.35	6.585
Lukoil	-0.06	5480	5.319
Moscow Exchange	+3.37	123	2.754

(71.3409– U.S. $1)

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