Russian stocks consolidate on lack of certain signals for movement

MOSCOW, Sep 26 (PRIME) -- The Russian stock market demonstrated no evident dynamics during the day on Tuesday and finished the session slightly higher thanks to local corporate stories, analysts said.

The MOEX Russia Index grew 0.21% to 3,051.91 and the RTS increased 0.14% to 998.49.

“The MOEX Russia and the RTS indices spent another day consolidating and giving no certain clues about their further dynamics,” Veles Broker analyst Yelena Kozhukhova said.

Investors on foreign stock exchanges continued to avoid risk following weak macroeconomic data from the U.S., she added. There is no considerable positive news from China as well, and difficulties in the state’s real estate sector still persist.

Kozhukhova said that the shares of X5 Retail Group grew significantly without any news.

Steel producers also outperformed the market without evident fundamental reasons. Investors may hope for improvement of the situation in the sector and that the companies would return to dividend payments soon, she also said.

Promsvyazbank senior analyst Vladimir Lyashchuk said that energy shares tried to recover thanks to rising crude prices with the Brent oil price adding 0.5% to over U.S. $92 per barrel.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.13	255.51	9.563
Lukoil	-0.62	6409	5.459
Gazprom	-0.01	165.85	3.978
NLMK	+3.3	209	3.399
Moscow Exchange	-0.09	181	3.386

(96.1456 rubles – U.S. $1)

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