Russian stocks mixed on fears of new sanctions, oil price rise

MOSCOW, Jul 18 (PRIME) -- The MOEX Russia Index declined on Monday on expectations of a seventh package of E.U. sanctions, while the RTS Index grew on an oil price increase, analysts said.

The MOEX Russia Index fell 0.62% to 2,096.42, and the RTS index increased 0.62% to 1,168.73.

"Purchases predominated on the Western stock markets on Monday, as investors wanted to continue correction from the local lows, including on commodities … The MOEX Russia Index did not manage to stay above 2,100 and is under the pressure of bears on expectations of new E.U. sanctions. Russian investors do not believe in good prospects of the broad market and are making only targeted purchases," Veles Broker analyst Yelena Kozhukhova said.

Hungary's Foreign Minister Peter Szijjarto said that the new sanctions would ban Russian gold imports, introduce additional limits on state purchases and deposits, audit and consulting services, and would also extend the blacklist of Russian people and entities.

Otkritie Research leading analyst Andrei Kochetkov said that the oil prices grew actively during the day, as U.S. President Joe Biden did not achieve official promises of oil output increase during a visit to Saudi Arabia.

According to Kozhukhova, Federal Grid Company of Unified Energy Systems (FGC UES) grew 14.79% on the news about a merger with Rosseti.  

Kochetkov said that the exports-oriented companies fell because of the ruble strengthening, except the chemical and petrochemical sector that rose by almost 0.7%.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.61	128.11	4.560
Gazprom	-0.49	186.7	3.182
Lukoil	-1.73	3645	1.416
Norilsk Nickel	-2.04	15282	1.233
Surgutneftegas pref	-2.55	33.12	1.196

(57.8323 rubles – U.S. $1)

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