Russian stocks mixed on US GDP statistics, stronger ruble

MOSCOW, Jul 29 (PRIME) -- Russian stocks closed mixed on Friday, because U.S. economic statistics caused a rebound in oil prices, and the dollar-denominated RTS rose due to strengthening of the ruble, while the MICEX fell as oil prices failed to continue growth, analysts said.

The MICEX fell 0.50% to 1,944.62 and the RTS increased 0.45% to 927.57.

“Data on the U.S.’ GDP growth and the results of Russia’s central bank meeting were main drivers for the Russian market today,” Veles Capital’s analysts said in a research note. Negative U.S. statistics resulted in weakening of the dollar and a rebound of oil prices, experts said.

“Higher oil prices and a decision of the Russian central bank to keep the key rate unchanged (at 10.5%) led to a significant strengthening of the ruble, which caused a rise of the RTS index by the end of the trading session.”

Finam analyst Bogdan Zvarich said that although oil prices failed to resume growth later and fell below a support level of U.S. $42.5 per barrel of Brent, the Russian stock market managed to close mixed.

Top Russian lender Sberbank rose 1.68% to 139.15 rubles, while the ruble strengthened to about 66 against the U.S. dollar by the closing bell.

Metals giant Norilsk Nickel, whose net profit fell 10.8% on the year in January–June, as calculated under Russian Accounting Standards (RAS), went down 0.95% to 9,444 rubles.

Far Eastern Shipping Company (FESCO), the RAS net profit of which contracted 41.2% in January–June, decreased 1.37% to 1.795 rubles.

Oil major Gazprom Neft rose 0.76% to 165.80 rubles after publishing strong financial results under RAS. Its net profit increased 11% in January–June.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.68	139.15	8.166
Gazprom	-1.86	137.30	4.912
Lukoil	-0.69	2867.00	2.036
Surguteftegas pref	-2.13	32.60	1.555
Norilsk Nickel	-0.95	9444.00	1.421

(66.1125 rubles – U.S. $1)

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