Russian stocks mixed on low trading volumes, no news from abroad

MOSCOW, Dec 28 (PRIME) -- The Russian stock market closed mixed on Wednesday, almost ignoring growing oil prices, as trading volumes fell before the New Year holidays and there was almost no news from abroad, analysts said.

The MICEX fell 0.29% to 2,182.98 and the RTS increased 0.22% to 1,138.31.

“A continuing increase of the black gold futures’ prices was a weighty argument in favor of bulls. The February futures for Brent oil have quite successfully consolidated above the resistance level which was located at U.S. $56. This way, they are traded not far away from their long-term maximums which supports both the Russian currency and Russian stocks,” Vitaly Manzhos, a senior analyst at Bank Obrazovanie, said.

But according to Sofya Kirsanova, an analyst at managing company Raiffeisen Capital, the trade volumes were low, which is why the MICEX was showing barely noticeable dynamics.

Bogdan Zvarich, an analyst at investment company Finam, said that besides market participants’ pre-holiday preparations which distract them from the market, foreign markets provide almost no signals which provokes a lull in Russia.

Kirsanova said that investors are hoping that interest rates in Russia will be decreasing and the relations with the U.S. will improve after Donald Trump takes presidency, which is why Russia-dedicated funds have started to register inflows despite losses of other emerging markets’ funds.

Manzhos said that oil and gas securities led the market on the back of the oil price rise.

ALROSA grew 0.05% after a statement that its Mir mine reached the target capacity, he said.

M.Video declined 1.59% on a statement that it will take two months for the Russian antitrust to consider an application by financial group Safmar to buy 100% in an investment company, which holds 57.7% in M.Video.

Below are the MICEX’ five most active stocks on Wednesday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-1.26	170.1	6.363
Gazprom	+0.41	151	2.581
Lukoil	-2.46	3344	1.845
Norilsk Nickel	-1.07	9790	1.368
Rosneft	+0.05	398.2	1.262

(60.8587 rubles – U.S. $1)

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