Russian stocks mixed amid geopolitical tensions, stronger ruble

MOSCOW, Apr 13 (PRIME) -- Russian stocks closed mixed on Thursday amid geopolitical tensions, negative dynamics on global floors, rising oil prices and the ruble’s strengthening, analysts said.

The MICEX decreased 0.16% to 1,944.70 and the RTS rose 0.99% to 1,089.39.

“Despite the fact that a meeting between (President Vladimir) Putin and (Foreign Minister Sergei) Lavrov with (U.S. Secretary of State Rex) Tillerson was held in a neutral and positive way, and the sides refrained from harsh statements on the most delicate issues, Russian investors are not yet returning to full-fledged purchases,” InstaForex analyst Igor Kovalyov said.

“This is partially connected with unfavorable foreign background, where risk aversion predominates having strengthened after (U.S. President Donald) Trump’s yesterday’s statements about “a too strong dollar,” he said.

Forex Club analyst Irina Rogova also said that the Russian benchmark remained under pressure of geopolitical tensions. “The market fears worsening of relations between Russia and the U.S. despite the fact that Tillerson and Lavrov did not give negative comments after the meeting,” she said.

Oil prices remain stable in expectation that non-OPEC states will prolong an oil production cut agreement for another six months, Rogova said.

Finam analyst Bogdan Zvarich said the RTS index’s growth was supported by continued strengthening of the ruble.

Gas giant Gazprom fell 0.41% on reports that its management recommended paying 7.89 rubles per share in dividends for 2016, flat on the year, Kovalyov said.

Steelmaker Severstal decreased 0.39% on reports that its steel output fell 2% on the quarter to 2.864 million tonnes in January–March, the analyst said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.14	152.00	10.616
Gazprom	-0.41	124.54	5.254
Surgutneftegas pref	+2.39	30.90	2.228
Lukoil	-1.34	2910.00	2.003
Norilsk Nickel	-1.67	8775.00	1.824

(56.7556 rubles – U.S. $1)

End