Russian stocks edge up on mixed background before Brexit poll

MOSCOW, Jun 21 (PRIME) -- Russian stocks edged up on Tuesday due to a mixed external background and despite contraction of oil prices before the upcoming Brexit referendum, analysts said.

The MICEX rose 0.07% to 1,904.02 and the RTS decreased 0.23% to 937.22.

The Brent oil price slid 1.686% to U.S. $49.81 per barrel as of 5.59 p.m. Moscow time, according to the ICE exchange.

“The external background for the Russian market was mixed during the day. The oil prices mostly fell ahead of the referendum in the U.K. According to estimates of Energy Aspects, Brexit may push oil prices down to slightly above a $40 per barrel mark,” Vasily Tanurkov, deputy head of the capital market research department of investment company Veles Capital, said.

Igor Kovalyov, an analyst at InstaForex group of companies, said that the mood on the Russian market somewhat worsened after interest to risky assets decreased due to Thursday’s Brexit referendum.

“The E.U. decision to extend sanctions against Russia exerted some pressure on the Russian market, as well as fresh statistics which indicated quicker contraction of retail sales to 6.1% on the year in May compared to 4.8% in April,” Kovalyov said.

Preferred shares of telecom giant Rostelecom grew 1.73% to 70.50 rubles, as the company’s shareholders approved on Tuesday a 74% increase in dividends for 2015, which will total 16.472 billion rubles, Tanurkov said.

Companies in the financial sector experienced some profit taking after yesterday’s increase, while the Moscow Exchange fell 1.63% to 117.06 rubles, Kovalyov said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.95	133.39	6.909
Gazprom	+0.40	143.54	3.141
Rosneft	+1.47	340.95	2.053
Lukoil	+0.55	2658.00	1.983
Norilsk Nickel	+1.36	8413.00	1.822

(64.1509 rubles – U.S. $1)

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