Russian stocks mixed as EU markets rise, ruble weakens

MOSCOW, Jun 7 (PRIME) -- The MOEX Russia Index increased on Thursday as the E.U. markets and oil quotations grew, while the RTS index fell on the back of a weakening ruble, analysts said.

The MOEX Russia Index grew 0.03% to 2,316.07 and the RTS index fell 0.55% to 1,171.22.

Andrei Kochetkov, an analyst at Otkritie Broker, said that a live Q&A conference of President Vladimir Putin with the Russians did not influence the market trends.

Sofya Kirsanova, an analyst at managing company Raiffeisen Capital, said: “On Thursday, June 7, dynamics of the Russian stock market became positive after two days of insignificant correction thanks to firming Western floors and growing oil prices,”

She said that investors hope that the G7 countries will be able to counter the U.S. protectionist trade policies after the E.U. has expressed rage with a U.S. intent to introduce steel duties and after the French president said he will not sign a joint G7 statement at a forthcoming summit if U.S. President Donald Trump does not ease his position on the duties.

Kochetkov said that Bank Vozrozhdenie jumped 6.77% after VTB CEO Andrei Kostin confirmed plans to acquire the bank and said VTB would like to close the deal in July–September.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.68	216.41	7.089
Lukoil	-0.34	4250	2.214
Gazprom	-0.58	146.05	1.807
Magnit	+1.88	5030	1.422
Norilsk Nickel	+0.03	11644	1.206

(62.0064 rubles – U.S. $1)

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