Russian stocks mixed on Catalonia, US Fed rate decision fears

MOSCOW, Oct 10 (PRIME) -- The Russian stock market closed mixed on Tuesday, as the MICEX index fell on worries over the Catalonia crisis, fears of soon U.S. Federal Reserve System (Fed) policies toughening and a rising ruble, and the U.S. dollar-bound RTS grew, analysts said.  

The MICEX fell 0.45% to 2,086.91 and the RTS rose 0.21% to 1,134.86.

“Two contradictory factors are influencing the market. On the one hand, the monetary policy of the Fed and the European Central Bank expected to become stricter in several months, risky assets remain very sensitive to the rhetoric of regulators. On the other hand, nice corporate reports must be noticed,” Otkritie Broker analyst Timur Nigmatullin said.

Igor Kovalyov, an analyst at InstaForex group of companies, said that the European trading floors were mostly decreasing on the back of the Catalonian political tensions, and the ruble rate resumed growth, which resulted in negative dynamics of the MICEX index. The RTS remained in the green zone but did not grow much.  

Nigmatullin said that Magnitogorsk Iron and Steel Works (MMK) was the market leader, rising 1.03% after the ex-dividend date on expectations of improvement of its financials.

Norilsk Nickel decreased as nickel price fell.

Kovalyov said that RUSAL slid 5.23% on statements that the shareholders decided to sell part of their stakes in the company.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.41	193.21	3.453
Gazprom	-0.30	124.44	2.510
Norilsk Nickel	-1.76	10254	1.976
Lukoil	-0.49	3037.5	1.632
RusHydro	-0.83	0.8772	0.960

(58.3151 rubles – U.S. $1)

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