Russian stocks mixed as investors careful prior to US Fed meeting

MOSCOW, Jul 30 (PRIME) -- The Russian stock market closed mixed after another session of consolidation seen on Tuesday amid global anticipation of a key rate decision by the U.S. financial authorities, analysts said.

The MOEX Russia Index grew 0.23% to 2,734.68 and the RTS eased 0.05% to 1,352.89.

“The Russian stock market spent the day consolidating at the level of yesterday’s closing despite a negative foreign environment. Western floors encouraged sales on the domestic market… The sole supportive driver was the energy market with the Brent oil price adding some 0.5% to around U.S. $64 per barrel,” senior analyst at Promsvyazbank Bogdan Zvarich said.

The market continued to consolidate around the 2,730 resistance line as part of investors are taking a wait-and-see approach ahead of the U.S. Federal Reserve’s key rate meeting.

Internet company Yandex bounced back by 1.61% to 2,480.4 rubles after the author of a bill limiting foreign ownership in Russian IT firms to 20% of voting shares had said the draft would be additionally discussed with the local IT community.

Metals giant Norilsk Nickel added 0.65% to 14,510 rubles as it had doubled the net profit under Russian Accounting Standards (RAS) in January–June. 

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	+0.16	237.1	10,356
Sberbank	+1.37	236	8,133
Lukoil	+0.21	5,105	3,488
Yandex	+1.61	2,480.4	3,200
Norilsk Nickel	+0.65	14,510	1,401

(63.5210 rubles – U.S. $1)

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