Russian stocks mixed on lack of growth drivers, pessimism abroad

MOSCOW, Jul 11 (PRIME) -- The Russian stock indices closed mixed on Monday as they followed the negative moods on the foreign bourses amid a lack of growth drivers, lower oil prices and the ruble strengthening, analysts said.

The MOEX Russia Index fell by 2.71% to 2,162.34, and the RTS index increased by 0.83% to 1,154.28.

“There were no obvious growth drivers in the first trade day of the week, and investors focused on a negative foreign background, the ruble strengthening, and a fall in oil prices,” Mikhail Shulgin, head of the global research department at Otkritie Investment, said.

Veles Capital’s analyst Yelena Kozhukhova also said that the RTS index managed to end the day with a small increase thanks to the ruble strengthening, but overall, the Russian stock market experienced a lack of ideas for purchases.

According to Shulgin, the European stock markets were under pressure in light of the Nord Stream gas pipeline’s suspension for scheduled maintenance for Monday–July 21. Investors worry that the gas pumping will not be resumed at all or it will be held at 60% or even 40% of the daily capacity as it was just before the suspension, he said.

Shulgin also attributed the negative moods on the stock markets of the E.U., Asia and the U.S. to worries over new COVID-19 cases registered in China as the outbreak might result in quarantines once again.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	-4.60	188.90	8.975
Sberbank	-4.88	126.80	6.952
Lukoil	-1.60	3848.50	2.077
MTS	-12.8	239.85	1.150
Polyus	+1.29	8484.00	1.037

(61.2664 rubles – U.S. $1)

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