Russian stocks neutral as US market closed, oil trend unclear

MOSCOW, Feb 19 (PRIME) -- The Russian stock market closed with marginal changes on Monday as the U.S. stock markets were closed for Presidents’ Day and the dynamics of oil futures and European markets were unclear, analysts said.

The MOEX Russia Index fell 0.02% to 2,254.92 and the RTS decreased 0.34% to 1,259.01.

“A fleeting impulse of the morning for increase of domestic shares faded quite soon. This was favored by unclear dynamics of key European stock markets and a halt of an oil futures’ increase seen in the morning,” Vitaly Manzhos, senior risk manager at investment company Nord Capital, said.

Brent futures traded at U.S. $65.54 as of 7:10 p.m. Moscow time.

Otkritie Broker analyst Andrei Kochetkov said that Norilsk Nickel started the day in the red zone but managed to recover later as details of a possible stake acquisition by UC RUSAL from a company owned by Roman Abramovich suggest that the stake may be sold at a premium to the market.

He said that the shareholder infights may continue and cause a market buyout.

Magnit remained under pressure after last week’s stake sale announcement. New shareholder VTB may later adjust the company’s strategy, Kochetkov said.

Sistema rose 1.64% after taking a 105 billion ruble loan from Sberbank, pledged against securities of MTS, the analyst said. Cancellation of court arrest on Sistema’s stakes in two affiliates was another positive factor, analysts said.

Kochetkov said that Sberbank reset the all-time high and correction warnings will be no longer valid for a certain time.

ALROSA grew 0.1% after selling gas assets for 30.3 billion rubles to Novatek, he said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Magnit	-4.96	4251	7.129
Sberbank	-0.05	266.85	6.459
Norilsk Nickel	+3.34	11171	6.373
Gazprom	+0.91	138.31	2.000
Lukoil	-0.96	3715	1.471

(56.3554 rubles – U.S. $1)

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