Russian stocks mixed on no drivers, Novak’s statement on oil talks

MOSCOW, Apr 4 (PRIME) -- Russian stocks closed mixed on Monday after trading flat on the back of no drivers, quite supported by statements made by Energy Minister Alexander Novak that the country may start oil talks with Saudi Arabia before an oil output freeze meeting on April 17, analysts said.

The MICEX rose 0.53% to 1,866.64 and the RTS slipped 0.02% to 861.76.

“The Russian stock market showed flat dynamics on Monday amid no triggers and significant macroeconomic statistics…Oil prices were very volatile during the trading session, fluctuating between U.S. $38.2–38.9 per barrel, supporting and depressing the Russian stock market,” Veles Capital analysts said in a research note.

Andrei Dirgin, head of the analytical department at Alfa-Forex, said that the statement made by Novak that the country may start oil negotiations with Saudi Arabia before the meeting in Doha scheduled for April 17 provided support for Russian assets.

Russian indices managed to win back some losses thanks to positive sentiment on European stock floors, InstaForex analyst Igor Kovalyov said.

The dollar-denominated RTS was put under pressure by a weak ruble. The national currency fell to 68.2 rubles against the U.S. dollar by the closing bell amid low oil prices.  

Novorossiysk Commercial Sea Port, whose net loss narrowed 80% in 2015, rose 1.36% to 3.74 rubles, analysts said.

Oil majors Rosneft and Lukoil increased rebounding after a last week’s fall, Veles Capital’s analysts said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.29	108.20	8.742
Gazprom	-0.56	146.38	4.251
Norilsk Nickel	-0.01	8459.00	3.390
Lukoil	+2.55	2692.00	2.814
Rosneft	+2.55	309.50	2.034

(67.1410 rubles – U.S. $1)

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