Russian stocks mixed on improving background, stable oil

MOSCOW, Sep 25 (PRIME) -- The Russian stock market consolidated in the negative territory during the day on Wednesday, but managed to reverse in the evening to close mixed thanks to an improving external environment, analysts said.

The MOEX Russia Index grew 0.21% to 2,760.29 and the RTS rose 0.35% to 1,354.01.

“The Russian stock market tried continuing the negative dynamics, but the evening improvement of the external background returned the MOEX Russia Index to the level of the previous day’s closing… the bears’ attempts to break through the next support line of 2,730 failed,” senior analyst at Promsvyazbank Bogdan Zvarich said.

Crude prices declined, but the Brent oil price managed to stay above U.S. $62 per barrel. Western stock exchanges looked mixed with European markets losing around 0.9% and the major U.S. Dow Jones and S&P500 benchmarks adding 0.6% and 0.2%, respectively, during the first hours of trading, Zvarich added.

Otkritie Broker analyst Andrei Kochetkov said that oil and metals stocks, including steelmaker Novolipetsk Steel (NLMK), integrated steel producer Magnitogorsk Iron and Steel Works (MMK) and oil company Lukoil underperformed.

Power company WGC-2 and oil and gas producer Surgutneftegas were the market outsiders losing 3.54% to 0.54 rubles and 1.16% to 34.545 rubles, respectively.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.26	228.09	8.612
Gazprom	+0.32	228.43	5.011
Lukoil	+0.11	5343.5	3.332
Tatneft	+0.78	740	2.439
Norilsk Nickel	+1.09	16727	2.024

(63.7060 rubles – U.S. $1)

End