Russian stocks mixed amid geopolitical tensions, oil decline

MOSCOW, Aug 29 (PRIME) -- Russian stocks closed mixed on Tuesday pressured by geopolitical news and falling oil prices, with the MICEX regaining positive dynamics only by the end of the trading day, analysts said.

The MICEX grew 0.10% to 1,989.12 and the RTS decreased 0.11% to 1,067.58.

“On Tuesday, the Russian stock market caught up a wave of foreign negative. Global indices are reducing in response to actions of North Korea that launched a missile over Japan,” InstaForex analyst Igor Kovalyov said. “A further reduction of oil prices, which react to a hurricane in the south of the U.S. that led to a closure of a number of the country’s oil refineries, adds fuel to the fire,” he added.

Shares of power producer Territorial Generating Company-2 (TGC-2) soared 38.2% on reports that the company’s net profit jumped to 4.98 billion rubles in January–June from about 250 million rubles in the same period of 2016, as calculated under International Financial Reporting Standards (IFRS).

Power utility Quadra’s shares added 7.69% after the company reported a 70% increase in its IFRS net profit in January–June.

Otkritie Financial Corporation (FC) Bank rose 2.37% after the central bank introduced an interim administration at the bank and said it will become its main investor, using money of the banking sector consolidation fund.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.02	181.89	8.320
Gazprom	-0.38	118.30	3.246
Norilsk Nickel	+1.98	9473.00	2.861
Magnit	+2.47	10247.00	2.182
Lukoil	-0.89	2894.00	1.877

(58.5469 rubles – U.S. $1)

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