Russian stocks mixed on high oil price, rising ruble

MOSCOW, May 22 (PRIME) -- The Russian stock market closed mixed on Tuesday as the RTS index was supported by high oil prices and a positive external background, while rising rate of the ruble pressurized the ruble-bound MOEX Russia Index, analysts said.

The MOEX Russia Index fell 0.25% to 2,326.87 and the RTS index grew 0.85% to 1,202.04.

“The external background remained quite positive, the oil price was high but sales predominated on the Russian market. Discussions about a search for means to fulfill the May orders (by President Vladimir Putin) which can involve raising taxes were among the factors of the pessimism. Besides, the U.K. has started to seek for unfair Russian money of (businessman Roman) Abramovich,” Otkritie Broker analyst Andrei Kochetkov said.

Sergei Drozdov, an analyst at investment company Finam said that global markets reacted positively to the news that the U.S. and China are against waging a trade war and U.S. Treasury Secretary Steven Mnuchin said that Washington and Beijing can return to negotiations if do not see a needed effect from the previous talks.

According to Kochetkov, strengthening of the ruble pressurized the securities of Russian exporters except metals producers.

According to Drozdov, Magnit grew after appointment of Olga Naumova as the CEO.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.27	225.6	9.755
Lukoil	-0.88	4360	3.269
Gazprom	-0.18	146.5	1.932
Magnit	+1.45	5260	1.554
Norilsk Nickel	+0.7	10998	1.518

(62.5327 rubles – U.S. $1)

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