Russian stocks mixed on high oil price, falling ruble

MOSCOW, Aug 28 (PRIME) -- The MOEX Russia Index grew on Tuesday on the back of a high oil price and a U.S.–Mexico trade agreement, while the RTS index fell as the ruble declined against the U.S. dollar and the euro, analysts said.

The MOEX Russia Index grew 0.14% to 2,316.28 and the RTS index decreased 0.54% to 1,078.28.

“The leading indices are consolidating after reaching a shaky balance. On the one hand, a nice external background, where trade agreements between the U.S. and Mexico came in handy, prevents a dip,” Igor Kovalyov, an analyst at InstaForex group of companies, said.

“On the other hand, investors continue to evaluate the possibility of introduction of a more aggressive set of sanctions in November, and this does not allow optimism to set in fully in spite of high oil prices and interest to the market as a whole.”

Otkritie Broker analyst Andrei Kochetkov said that metals and fertilizer producers were the market drivers, rising to a significant extent on cancellation of a plan to pay their surplus income to state coffers.

Gazprom increased on expectations of a solid report for January–June under International Financial Reporting Standards (IFRS). Aeroflot grew 0.33% on expectations that passenger traffic has surged, Kochetkov said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.69	182	9.066
Norilsk Nickel	+1.61	11250	3.137
Gazprom	+0.75	145.6	2.862
Lukoil	+0.23	4587.5	1.855
Novatek	-0.28	1067	1.185

(67.3963 rubles – U.S. $1)

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