Russian stocks fall on profit taking as key rate left unchanged

MOSCOW, Apr 29 (PRIME) -- Russian stocks decreased on Friday on profit taking before long holidays and on a central bank decision to keep the key rate at 11%, analysts said.

The MICEX fell 0.85% to 1,953.05 and the RTS decreased 1.38% to 951.11.

“The Russian indices were depressed by a range of factors. On the one hand, they were influenced by technical factors – it is difficult to rise to new all-time highs for the MICEX without new growth triggers. On the other hand, they were put under pressure by the central bank decision. Today the regulator kept the key rate at 11%,” Irina Rogova, an analyst at Forex Club, said.

InstaForex analyst Igor Kovalyov said that market players took profits before long holidays.

Russian markets will be closed on May 1 and 2 as the country celebrates May Day holidays.

Norilsk Nickel fell 3.09% to 9,409 rubles after reporting that its January–March net profit contracted 12% to 48.64 billion rubles, as calculated under Russian Accounting Standards (RAS).

Oil and gas company Surgutneftegas, whose net profit under International Financial Reporting Standards (IFRS) fell 14% to 762 billion rubles in 2015, went down 1.64% to 42 rubles.

Gas giant Gazprom, which earned a 787 billion ruble IFRS net profit for 2015, rose 2.26% to 168.47 rubles.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.68	123.55	12.763
Gazprom	+2.26	168.47	11.863
Rosneft	+2.71	351.00	3.211
Lukoil	-1.71	2752.00	2.407
Norilsk Nickel	-3.09	9409.00	2.344

(65.1133 rubles – U.S. $1)

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