Russian stocks mixed as EU undecided on oil embargo

MOSCOW, May 13 (PRIME) -- The Russian stock market closed mixed on Friday, because, according to reports from the E.U., a Russian oil embargo is still far, while a rising ruble sank the RTS index, analysts said.

The MOEX Russia Index grew by 0.42% to 2,307.50, and the RTS index decreased by 0.69% to 1,132.23.

"The Russian market consolidated in the first half of the day. Head of E.U. diplomacy Josep Borrell said again that discussion of the Russian oil embargo would continue, but it is becoming increasingly clear that there is no radical solution to the issue in Europe. The rest is of a low importance for the market," Otkritie Research’s senior analyst Andrei Kochetkov said.

Veles Capital’s analyst Yelena Kozhukhova said that the European and U.S. market moods were positive, as the Euro Stoxx 50 added about 1.8%, and the S&P 500 about 1.4%.

Kochetkov said that the oil prices increased as Shanghai pledged abolishment of transport restrictions, which means a gradual recovery of demand in China. The OPEC production grew by only 153,000 barrels per day in April to 28.648 million barrels per day, half of the quota amount, which signaled troubles with oil supply.

According to Kochetkov, the securities that sagged on Thursday, TCS Group, Petropavlovsk (+0.17%), Inter RAO(+1.34%), Gazprom and PhosAgro(+1.11%), were among the leaders on Friday.

Gazprom increased, most probably, after denying plans to stop supplies to Finland, the analyst said.

The financial sector increased mainly on recovery of the TCS Group securities, he said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	+2.15	235.52	4.058
Sberbank	+0.88	120.2	2.743
Lukoil	+0.4	4380	1.190
TCS Group	+4.82	2130	0.539
Norilsk Nickel	-0.18	21200	0.465

(65.7916 rubles – U.S. $1)

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