Russian stocks mixed on falling ruble, rising oil prices

MOSCOW, Feb 9 (PRIME) -- The Russian stock market closed mixed on Thursday, as the MOEX Russia Index grew thanks to rising foreign markets and oil prices, while the RTS index decreased on the back of a weakening ruble, analysts said.

The MOEX Russia Index increased 0.47% to 2,262.45, and the RTS index fell 0.39% to 977.98.

"The Russian stock market was under downward pressure in the middle of the session, as the mood in the country remained negative, like the ruble dynamics," Veles Capital analyst Yelena Kozhukhova said.

Otkritie Research leading analyst for global research Andrei Kochetkov said that the ruble dove in the first hours of trade, which may worry the central bank that will discuss the key rate on Friday.

According to Kochetkov, Sberbank disappointed investors after reporting a 110.1 billion ruble net profit in January after a 125.5 billion ruble one in December, as calculated under Russian Accounting Standards.

The European market mood was positive, as the Euro Stoxx 50 added about 1.5% in the middle of the Russian session, the nearest Brent and WTI futures added less than 0.5% to U.S. $84.5 and $78.5 respectively, the U.S. S&P 500 added about 0.8%, Kozhukhova said.

According to Kozhukhova, the ruble segment of the market will likely try to recover until the authorities issue further statements on voluntary contributions of large companies to the budget.

Gazprom was supported by the news that the company and its affiliates would be exempt from an elevated profit tax on exports of liquefied natural gas, Kozhukhova said.

Bank Saint Petersburg developed a rally, rising 6.85% on the news about continuation of its buyback program, and reached its highest since April 2011, she said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.54	165.03	16.773
Ashinsky Metallurgical Plant	+9.33	48.495	5.392
Gazprom	+0.61	159.15	4.177
Mostotrest	-35.03	181	2.096
Severstal	+2.46	1006.4	1.482

(71.5763 rubles – U.S. $1)

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