Russian stocks demonstrate mixed dynamics on controversial drivers

MOSCOW, Jun 28 (PRIME) -- The Russian stock market demonstrated controversial movement during the day on Tuesday and closed mixed thanks to a strong ruble, rising oil prices, and fresh Western sanctions, analysts said.

The MOEX Russia Index fell 0.34% to 2,408.75 and the RTS increased 2.63% to 1,465.57.

“After a steep fall at the beginning of the trading session, when the MOEX Russia Index had slid to below 2,400, the Russian stock market managed to recoup the losses in the second half of the day,” Alexei Golovinov, chief analyst at PSB Bank, said.

The index was largely supported by the securities of banking groups TCS Group and VTB Bank, gas giant Gazprom, and oil company Surgutneftegas thanks to increasing oil prices with the Brent oil trading near U.S. $116 per barrel, he added.

The ruble has strengthened to less than 52 rubles per U.S. dollar, for the first time since 2015, which pressured the shares of mining and metals exporters, Golovinov also said.

Veles Broker analyst Yelena Kozhukhova said that the Russian market closed mixed in light of a strong ruble and new sanctions.

The G7 summit confirmed the information about a ban on imports of Russian gold and a price limit on imports of Russian oil, she added.

The U.S. slapped fresh sanctions against more than 100 local companies and gold imports.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	+0.34	297.2	11.911
Sberbank	-0.82	139.99	7.676
PIK	+1.47	794.5	4.509
Surgutneftegas	+17.35	26.85	2.519
Lukoil	-2.70	3989.5	1.591

(53.3641 rubles – U.S. $1)

End