Russian stocks mixed on expectations of US Fed head speech

MOSCOW, Mar 7 (PRIME) -- The Russian stock market closed mixed on Tuesday ahead of a speech by U.S. Federal Reserve System (Fed) Chairman Jerome Powell and a holiday on the local market on Wednesday, with the RTS index hit by a weakening ruble, analysts said.

The MOEX Russia Index firmed by 0.06% to 2,295.60, and the RTS index declined by 0.72% to 951.38.

"The external background on Tuesday can be characterized as neutral. The oil prices remain near yesterday's closing, and the dynamics on the global markets is neutral. Buyer activity can be held down by the approach of a new holiday," Yevgeny Linchik, head of the stock managing department at managing company Pervaya, said.

The Russian markets will be closed on Wednesday to celebrate the International Women’s Day holiday.

Investors are waiting for a speech by Powell on Tuesday. According to Linchik, growth on the global markets could continue if the speech contains no surprises.

According to Veles Capital analyst Yelena Kozhukhova, the European markets' mood was neutral, as the Euro Stoxx 50 index consolidated January highs.

In Russia, the preferred and common shares of Mechel and the shares of Raspadskaya hit their highs since September 2022, growing 3.28%, 2.71% and 4.85% respectively after statistics of coal imports to China were released, the analyst said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.09	173.71	8.265
Gazprom	-0.28	162.9	2.023
Lukoil	+0.3	4124	1.524
Moscow Exchange	-0.59	123.14	1.129
Norilsk Nickel	+1.2	14734	1.012

(75.4728 rubles – U.S. $1)

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