Russian stocks ease thanks to geopolitical uncertainty

MOSCOW, Aug 26 (PRIME) -- The Russian stock market managed to rebound after a negative opening on Monday in light of encouraging dynamics of European markets, seen higher on hopes of a new round of economic talks between the U.S. and China, but fell just before the closing to finish the day in the negative territory, analysts said.

The MOEX Russia Index slid 0.09% to 2,658.24 and the RTS eased 0.02% to 1,268.25.

“The Russian stock market managed to bounce back after a negative movement in the morning… as the European markets did not follow the Asian pessimism. (U.S. President Donald Trump) had said that Beijing had been actively reaching out to Washington to ask for renewed trade talks that is why the markets again hope for suspension of the trade war,” Otkritie Broker analyst Andrei Kochetkov.

The domestic market consolidated during the day, and eased just before the closing.

Fertilizer producer Acron was among the best performers surging 1.27% to 4,770 rubles on a sound IFRS report marking that the company’s net profit multiplied in January–June.

Children goods retailer Detsky Mir went up 0.9% to 89.5 rubles as its IFRS net profit almost doubled on the year the January–June.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.46	218.5	7.703
Lukoil	-1.32	5115	2.911
Gazprom	-0.2	228.9	2.578
Norilsk Nickel	-0.27	15340	1.805
Polyus	+2.82	7485	1.135

(65.6046 rubles – U.S. $1)

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