Russian stocks neutral on Gazprom rise, key rate growth

MOSCOW, Sep 10 (PRIME) -- The Russian stock market closed with marginal changes on Friday, as a positive impact of the growth of shares of Gazprom was balanced by the key rate increase by the central bank, analysts said. 

The MOEX Russia Index grew 0.23% to 4,002.66, and the RTS Index decreased 0.06% to 1,725.25.

"Local investors have so far ignored the positive dynamics of oil and European indices. A decision of the central bank to raise the key rate by 25 basis points to 6.75%, and remaining chances that the rate would keep on growing, was pressurizing the market to some extent," Otkritie Broker analyst Andrei Kochetkov said.

Yury Kravchenko of Veles Capital said that the central bank made the statement on future key rate increase more hawkish than in July, as it changed the attitude to "not ruling out an increase" from "considering the viability of increase."

Kochetkov said that Gazprom was one of the main supporters of the market after finishing the Nord Stream 2 construction and announcing the start of sales in October.

According to Kochetkov, the metals sector was the market leader amid high metal prices.

Retailers decreased as consumer lending can decline on the key rate rise, Kochetkov said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	+0.6	326.52	12.372
Sberbank	+0.27	326.89	5.118
RUSAL	+6.05	72	4.977
Lukoil	+0.49	6300	4.397
Norilsk Nickel	+2.17	24500	4.148

(73.1290 – U.S. $1)

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