Russian stocks mixed ahead of cbank’s extraordinary key rate meeting

MOSCOW, Aug 14 (PRIME) -- The Russian stock market closed mixed on Monday as the ruble started strengthening over the news about the central bank’s extraordinary meeting on Tuesday, analysts said.

The MOEX Russia Index fell 0.78% to 3,131 and the RTS increased 0.85% to 1,009.43.

“The Russian stock market changed direction by the end of the main trading session on Monday after the announcement of an extraordinary key rate meeting of the central bank scheduled for tomorrow,” Veles Capital analyst Yelena Kozhukhova said.

According to Kozhukhova, the regulator can raise the rate to 10% trying to prevent new sales in the Russian currency.

“It is hard to tell whether such a move by the central bank will contribute to a change in at least the short-term trend, but the news about the extraordinary meeting has already made ruble sellers take a significant part of their profits during the day,” the analyst also said.

According to Freedom Finance Analyst Natalya Milchakova, in the center of attention of the market participants was the ruble, which, having collapsed in the morning to 100 rubles per dollar, by the evening began to recover the fall.

Cherkizovo’s shares outperformed the market today rising by 19% on the expectations of dividends for the first half of the year.

ALROSA showed the biggest drop as the company released weak financial results for January–June under International Financial Reporting Standards (IFRS).

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	+0.37	177	26.47
Sberbank	-1.29	262.8	17.941
Lukoil	-1.4	6196.5	15.85
RussNeft	+7.74	188	10.605
ALROSA	-4.41	87.92	8.889

(98.2066 rubles – U.S. $1)

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