Russian stocks flat on no market drivers, low activity

MOSCOW, Feb 7 (PRIME) -- The Russian stock market eased on Monday on absence of growth drivers and pressure from today’s sale-off in the market’s blue chips’ shares, analysts said.

The MOEX Russia Index remained flat at 3,470.78% and the RTS increased 0.64% to 1,445.20.

According to Yegor Zhilnikov of PSB Bank, the market continued to consolidate on Monday, but the trading session was stingy for any remarkable events or trends, despite crude oil futures storming the U.S. $93 per barrel mark. The shares of the market’s gas companies were under pressure due to a cave-in in gas futures.

“Investors are still interested in buying, but lack additional motivation,” Vladislav Silayev of Alfa Capital said. With geopolitical stress easing, investors have become more confident about acquisitions and are no longer running from risks, he said.

Metals producers, miners and chemical companies were among the main beneficiaries during today’s session. The shares of NLMK and MMK grew on rising steel products prices, while aluminum company RUSAL failed to gain on an increase in aluminum prices. The shares of chemical companies PhosAgro and Acron outperformed the market average, growing 2,5% and 11.5%, respectively, Zhilnikov said.

The shares of PIK Group, TCS Group and Magnit shares led the decrease, falling from 2.10% to 4.13%, Silayev said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.06	256.69	20.101
Gazprom	-1.14	320.89	16.475
Lukoil	-0.61	6967.5	6.394
NLMK	+1.64	220.32	3.399
Rosneft	-0.63	568.4	3.224

(76.0509 rubles – U.S. $1)

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