Russian stocks mixed on stronger ruble, decline on global floors

MOSCOW, May 20 (PRIME) -- Russian stocks closed mixed on Monday amid negative dynamics on global floors, with the MOEX Russia Index declining under pressure of a strengthening ruble, analysts said.  

The MOEX Russia Index fell 0.23% to 2,571.65, and the RTS Index increased 0.12% to 1,256.22.

“Having opened upwards, Russian stock indicators showed an upward momentum amid a positive foreign background. However, the situation on the global markets began to deteriorate after the start of the Russian session, as a result of which our indices moved to a steady decline,” BCS Broker expert Dmitry Babin said.

Instability on global floors remained due to a big uncertainty with foreign trade relations mostly caused by the U.S. position, he said.

“In the second half of our trading, global stock markets and oil prices moved to active recovery, due to which Russian stock indicators bounced off May 17’s lows. However, the MOEX Russia Index again showed weaker dynamics, remaining under pressure of the strengthening ruble,” Babin said.

Trading on the U.S. stock floors started with a decline of three main indices, which were losing around 0.3–1.2% by the end of trading in Russia, Veles Capital analyst Yelena Kozhukhova said. Trading in Europe was on a pessimistic note. Oil quotations tried to remain in plus by the evening, but significantly reduced the morning growth and were adding less than 1%, she said.

Power grid holding Rosseti and power producer Mosenergo were among growth leaders, adding 6.45% and 2.59%, respectively, Kozhukhova said. Power producer Enel Russia and preferred shares of oil pipeline monopoly Transneft were among outsiders, losing 2.39% and 2.31%, respectively.  

Oil and gas pipe maker TMK rose 0.75% after reporting that its net profit jumped to U.S. $46.517 million in 2018, as calculated under International Financial Reporting Standards (IFRS).

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.41	226.00	6.850
Gazprom	+0.96	220.80	5.452
Lukoil	-1.66	5172.50	5.135
Surgutneftegas pref	+2.57	40.515	2.111
Norilsk Nickel	-1.71	13358.00	2.108

(64.6327 rubles – U.S. $1)

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