Russian stocks fall despite rising oil, global floors growth

MOSCOW, Jul 20 (PRIME) -- Russian stocks decreased on Thursday ignoring a positive foreign background and oil prices almost reaching the level of U.S. $50 per barrel, analysts said.

The MICEX fell 0.28% to 1,946.51 and the RTS decreased 0.44% to 1,038.54.

“Despite a favorable foreign background, Russian indices could not follow the example of their foreign colleagues, settling slightly below the opening levels,” InstaForex analyst Igor Kovalyov said.

“Current low-active dynamics on the Russian market, which is not reacting to the foreign positive sentiment, can be partially explained by investors’ unwillingness to make trade decisions,” Kovalyov said. Despite the current growth of oil quotations, market participants are skeptical about the stability of the upward impulse, he said.

Shares of multi-industry holding Sistema remained under pressure falling 1.68% amid a dispute with oil major Rosneft.

Metals giant Norilsk Nickel dropped 3.26% after metals holding Metalloinvest announced plans to sell its 1.8% stake in the company.

Steel maker Severstal lost 1.4% on reports that its net profit contracted 43.6% on the year to $495 million in January–June, as calculated under International Financial Reporting Standards.

Hydropower giant RusHydro gained 0.75% after reporting that its power output increased 0.7% on the year to 63.535 billion kilowatt-hours in January–June.

Uncut diamond giant ALROSA lost 1.95% after reporting that its net profit almost halved to 43.7 billion rubles in January–June under Russian Accounting Standards.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.25	163.93	6.885
Gazprom	+0.41	120.60	2.632
Norilsk Nickel	-3.26	8410.00	2.514
ALROSA	-1.95	87.60	1.302
Severstal	-1.4	848.00	1.245

(59.2418 rubles – U.S. $1)

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