Russian stocks mixed on oil prices fluctuations
MOSCOW, May 4 (PRIME) -- The Russian stock market closed mixed on Thursday with the MOEX Russia Index decreasing and the RTS index rising after a speech by the U.S. Federal Reserve System (Fed) chairman triggered an upward oil price correction, but then the prices returned to a decrease, analysts said.
The MOEX Russia Index eased by 0.31% to 2,524.51, and the RTS index rose by 1.01% to 1,018.72.
"The external background was mixed on Thursday. The oil prices grew after a significant three-day decrease, while negative dynamics prevails on the global markets," Ivan Kapustyansky, analyst at managing company Pervaya, said.
The Fed raised the key rate by 0.25 percentage points and signaled a possible pause in further increases. The market reaction was mixed, but the prices for the Brent oil blend grew above U.S. $72 per barrel, the analyst said.
Dmitry Postolenko, head of managing company PervayaТs department for fixed income securities management, said that the positive trend was short-lived sinking the MOEX Russia Index.
Veles Capital analyst Yelena Kozhukhova said that corporate stories supported the Russian market.
Mechel returned to growth on media reports about a rise of Russian coking coal exports by 44% in JanuaryЦMarch thanks to high demand in China and India.
According to Kapustyansky, the metals, oil chemistry and consumer sector were the market leaders.
Aeroflot fell 2.76% on reports about cutting the number of flights on the national routes as state subsidies were reduced.
Acron closed flat after publishing a 64.3% net profit dive in JanuaryЦMarch, as calculated under Russian Accounting Standards, Kozhukhova said.
Below are the MOEX Russia IndexТ five most active stocks on Thursday:
|Company||Change, %||Last price, rbl||Trading volume, bln rbl|
(79.3071 rubles Ц U.S. $1)