Russian stocks consolidate on neutral global, domestic environment

MOSCOW, Sep 18 (PRIME) -- The Russian stock market demonstrated consolidation in a narrow range during the day following an upward opening gap and closed mixed on a lack of major news on Monday, analysts said.

The MICEX grew 0.26% to 2,059.08 and the RTS fell 0.38% to 1,119.14.

“There was consolidation on the market. S&P agency affirmed Russia’s (sovereign) ratings at a speculative level, but has upgraded the outlook to positive. However, it was not enough for investors to feel optimism,” Otkritie Broker analyst Andrei Kochetkov said.

Anastasia Sosnova, senior analyst at Bank Rossiysky Capital agreed that the MICEX and the RTS were almost flat at 2,606 and 1,120, respectively, seeing no drivers in an improving external background.

The Brent oil price was fluctuating around a U.S. $55 per barrel mark supporting Tatneft’s preferred shares and Lukoil’s common shares, which demonstrated a rise of 3.33% to 285.2 rubles and 1.81% 3,032.5 rubles, respectively.

A weakening ruble backed shares of metals exporters. Mining and metallurgic company Norilsk Nickel added 0.13% to 9,547 rubles and aluminum giant UC RUSAL went up 1.54% to 42.2 rubles.

Sberbank’s stock was under pressure of a lack of investor interest following a previous sequence of historical records, it fell 0.38% to 188.04 rubles.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.38%	188.04	5.577
Lukoil	+1.81%	3032.50	4.235
Gazprom	+0.18%	122.72	3.320
Norilsk Nickel	+0.13%	9547.00	1.619
ALROSA	-0.06%	81.10	1.371

(57.5336 rubles – U.S. $1)

End