Russian stocks closed mixed despite key rate cut, no global cues

MOSCOW, Mar 24 (PRIME) -- The Russian stock market did not demonstrate a clear mood on Friday amid a lack of strong global triggers, analysts said.

The MICEX eased 0.55% to 2,039.77 and the RTS firmed 0.03% to 1,124.66.

Yevgeny Loktyukhov, head of Promsvyazbank’s research department said that there is still uncertainly around the future Congress decision to abolish Obamacare -- the U.S. President Donald Trump’s core election campaign promise, and the oil prices are unable to resume growth.

“The market had declined before midday, when the central bank slashed the key interest rate by 25 basis points. However, the move did not result in ruble weakening. The Russian currency, on the contrary, strengthened a bit, and it pressured the stocks,” Otkritie Broker analyst Andrei Kochetkov said.

Anastasia Sosnova, a senior analyst at Bank Rossiysky Capital, said that the ruble tested 57 against the U.S. dollar after the regulator announced the rate cut, but a bounce back is expected as there are no rational reasons for any movement of the currency.

Dividend payment news was among the day’s key drivers on the Russian stock market.

Coal producer Raspadskaya sagged by 2.7% to 73.95 rubles after it published a 2016 IFRS financial report showing a $185 million net profit, while the company’s board recommended to pay no dividends for the last year.

Preferred shares of Russian oil pipeline monopoly Transneft lost 3.79% to 199,150 rubles after its shareholders voted for allocating 10% of the net profit for dividends on both preferred and common shares.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.23%	164.52	5.442
Gazprom	-0.72%	130.05	2.680
Lukoil	-1.58%	3,017.50	1.575
ALROSA	-0.22%	96.00	1.398
Rosneft	-0.72%	315.65	1.125

(57.5228 rubles – U.S. $1)

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