Russian stocks mixed on weak oil, ruble, rising chemical companies

MOSCOW, Oct 13 (PRIME) -- Russian stocks closed mixed on Tuesday, with the RTS decreasing on the back of the weakening of oil prices and the ruble, and the MICEX being supported by rising stocks of chemical companies, analysts said.

The MICEX rose 0.60% to 1,720.81 and the RTS decreased 1.13% to 866.52.

“The oil, which slipped below U.S. $50 per barrel for some time today, put the rate of the ruble and the Russian stock market under pressure,” Veles Capital’s analysts said in a research note.

Stocks decreased due to a lack of growth drivers after oil prices fell on the news that OPEC’s oil output increased and that Indonesia may join the organization again that will make setting oil quotas more difficult, Pavel Salas, CEO of eToro in Russia and CIS, said.

The increase of the MICEX was secured by rising stocks of chemical companies, Mikhail Krylov, head of Golden Hills-Kapital’s analytical department, said.

The foreign background for Russian stocks was negative as European floors fell on weak ZEW indices and Asia was depressed by statistics on China’s decreased import, which might be indicating a fall in demand in the country, Veles Capital’s analysts said.

Internet giant Yandex rose 9.56% after the company’s search engine became the default one for two browsers of Microsoft in Windows 10, Veles Capital’s analysts said.

Statistics on reserves and production of hydrocarbons in the U.S. might set the tune at the Russian market on Wednesday until the end of the week, Veles Capital’s analysts also said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.53	85.00	8.465
Gazprom	+0.07	141.80	4.433
Lukoil	+0.42	2350.00	2.904
Norilsk Nickel	+0.99	9715.00	2.216
VTB	-0.96	0.07735	1.275

(61.1535 rubles – U.S. $1)

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