Russian stocks mixed on rising ruble, oil prices

MOSCOW, Nov 28 (PRIME) -- The Russian stock market closed mixed on Tuesday on the back of a resumed strengthening of the ruble balanced by an increase of oil prices, analysts said.

The MOEX Russia Index rose by 0.17% to 3,196.36, and the RTS index eased by 0.30% to 1,128.61.

"The MOEX Russia Index and the RTS index remained under the downward pressure, while the ruble index (the MOEX Russia Index) tested the level of 3,160 again," Veles Capital’s analyst Yelena Kozhukhova said.

"The Russian stock market indices continued to decrease on Tuesday reflecting a persistent correction trend on the foreign markets and resumed strengthening of the ruble. At the same time, an increase of oil prices ahead of a coming OPEC+ meeting, where a decision on oil production cut may be made, has support the local shares to some extent," Finam analyst Yelena Yushkova said.

In the evening, the MOEX Russia Index started growing.

The nearest Brent and WTI futures increased by more than 1% in the middle of the Russian session pursuing the levels of U.S. $82.80 and $77.50 respectively, Kozhukhova said. The foreign stock markets demonstrated a mixed trend, she said.

According to Kozhukhova, the shares of Polymetal continued to recover from local lows and exceeded the level of 500 rubles. "The fears of delisting from the Moscow Exchange after redomiciliation to Kazakhstan seem to have vanished," she said.

NLMK rose 0.89% after posting weak financials for April–June, Kozhukhova said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Mechel	+4.02	303.32	13.004
Sberbank	-0.8	280.06	11.679
Polymetal	+7.88	514.6	8.895
Lukoil	-0.09	7216	2.616
Gazprom	+1.23	164.79	2.392

(88.7045 rubles – U.S. $1)

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