Russian stocks flat after US releases inflation figures

MOSCOW, Sep 13 (PRIME) -- The Russian stock market closed with a marginal dynamics on Tuesday, as a positive effect of growing foreign markets and the prices for oil was balanced by the U.S. inflation statistics which disappointed investors, analysts said.

The MOEX Russia Index fell 0.11% to 2,446.89, and the RTS index increased 0.27% to 1,284.10.

"The MOEX Russia Index has suspended the attempts at recovery as the trading activity dropped. However, there were no active sales or purchases on the local market. We shall note that this was happening amid a worse than expected U.S. inflation statistics, while the ruble remained on strong positions," PSB Bank senior analyst Yegor Zhilnikov said.

The consumer prices in the U.S. grew 8.3% in August, which was lower than July's 8.5% inflation but higher than an estimate of 8.1%, Dmitry Postolenko, senior portfolio manager of management company Pervaya, said.

Veles Capital’s analyst Yelena Kozhukhova said that the European markets' moods were moderately positive, as the Euro Stoxx 50 gained about 0.7% in the middle of the session, rising to maximums since the end of August. The nearest Brent and WTI futures added about 1.5%, and in the U.S., the S&P 500 futures grew about 0.6% ahead of the publication of inflation data for August. Investors expected a stabilization of inflation pressure or even its weakening, the analyst said.

According to Kozhukhova, Detsky Mir increased 1.67% on the back of an optimism in the retail sector.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.92	137.43	5.877
Gazprom	-0.12	243	5.004
Lukoil	-0.42	4541	1.811
TCS	+1.97	3008	1.663
Yandex	+1.6	2183	1.606

(60.4568 rubles – U.S. $1)

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