Russian stocks mixed amid high oil, econ minister detention

MOSCOW, Nov 15 (PRIME) -- Russian stocks closed mixed on Tuesday, as higher oil prices and a stronger ruble backed the RTS index and a bribery case against Economic Development Minister Alexei Ulyukayev pushed the MICEX down, analysts said.

The MICEX decreased 0.24% to 2,017.06 and the RTS rose 2.10% to 980.47.

The dollar-denominated RTS index was growing during the day amid the ruble restoring in line with oil prices, InstaForex analyst Igor Kovalyov said. “The MICEX did not manage to resume growth due to a corruption scandal around Economic Development Minister Ulyukayev, who was detained for receiving a U.S. $2 million bribe for a positive estimate that allowed Rosneft to buy a government stake in Bashneft,” the analyst said.

The Brent oil price grew over 3% on reports that OPEC members are close to reach a consensus on oil production freeze, Andrei Dirgin, director of Alfa Forex’s analytical department, said.

The national currency was also supported by reports that Russian President Vladimir Putin had a telephone conversation with U.S. President-elect Donald Trump, where they agreed to take joint efforts to normalize relations between the two countries, Forex Club analyst Irina Rogova said.

Bashneft’s shares gained 1.29% on reports that Rosneft sent a mandatory buyout offer to Bashneft’s minority shareholders, Kovalyov said.

National top lender Sberbank lost 0.37% despite posting strong financial results for January–September, with net profit almost tripling to 400.1 billion rubles under International Financial Reporting Standards.

Uncut diamond giant ALROSA increased 0.68% after reporting a $430.8 million revenue from diamond sales in October, Vitaly Manzhos, a senior analyst at Bank Obrazovanie, said.

Troubled airline Transaero’s shares dropped 15.25% after Monday’s growth caused by reports that the company’s board of directors approved the management’s proposal to create a new airline around Transaero.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.37	149.85	7.601
Gazprom	-0.25	145.90	3.488
Norilsk Nickel	-0.13	10367.00	2.585
Mechel	+0.08	211.00	1.814
Lukoil	-0.69	3043.00	1.758

(65.8591 rubles – U.S. $1)

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