Russian stocks mixed on negative environment, ruble’s growth

MOSCOW, Oct 4 (PRIME) -- Russian stocks closed mixed on Wednesday as the MICEX index was under the pressure of an unfavorable external background, while the RTS edged up thanks to a rising ruble, analysts said.

The MICEX rose 0.01% to 2,077.09 and the RTS increased 0.64% to 1,137.14.

“The MICEX contracted under the weight of the worsening external background as the Spanish banking sector exerted pressure on the European floors. The RTS allowed itself to grow slightly in response to the strengthening of the ruble,” Igor Kovalyov, an analyst at InstaForex group of companies, said.

Andrei Kochetkov, an analyst at Otkritie Broker, said that the local market is hibernating in the absence of significant drivers for growth or contraction, while speculators are concerned only with local movements in some shares.

“The markets so far see no clear consequences of the referendum in Catalonia, but escalation of confrontation of the local authorities and the Madrid government weighed upon all European floors. Spain’s IBEX 35 was in the red zone for up to 2.5% during the day with shares of local banks making a major contribution to it,” Kochetkov said.

Bodgan Zvarich, an analyst at investment company Freedom Finance, said that the local market received no support from oil prices, with the Brent oil price managing to maintain its positions at around U.S. $55.7 per barrel.

Kochetkov also said that shares of the Moscow Exchange gained 1.52% to 119 rubles on expectations that a high volume of exchange trade will translate into higher dividends.

Shares of metals companies fell as investor optimism has fizzled out after several consecutive days of growth, Kochetkov said. Metals giant Norilsk Nickel lost 0.39% to 10,213 rubles, and steelmakers Severstal and Novolipetsk Steel (NLMK) fell 0.59% to 887 rubles and 0.04% to 136.65 rubles, respectively.

Kovalyov said that mobile operator MegaFon gained 0.66% to 593.90 rubles in a rebound after Tuesday’s plunge on Sweden telecom giant Telia’s sale of about 6% in the company at 585 rubles per share.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.24	192.03	5.092
Gazprom	+0.81	121.76	2.934
Norilsk Nickel	-0.39	10213.00	2.247
Lukoil	-0.51	3038.50	1.273
Magnit	-1.55	9914.00	1.145

(57.9375 rubles – U.S. $1)

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