Russian stocks seen mixed amid uncertain global environment

MOSCOW, Sep 9 (PRIME) -- The Russian stock market traded and closed mixed on Monday amid a controversial external background, analysts said.

The MOEX Russia Index grew 0.37% to 2,932.29 and the RTS eased 0.12% to 1,218.52.

“The market was under pressure with the RTS index falling to 1,210, but no further, which points to a moderately positive sentiment. Investors are evidently sure that correction of the oil price will be short. The index looks stable and is to consolidate at around 1,201–1,230 in the next 24 hours… The MOEX Russia tested the 2,950 mark, but then decreased into the 2,930–2,940 range,” Freedom Finance analyst Valery Yemelyanov said.

Yemelyanov also said that the Brent oil price fell to U.S. $41.6 per barrel for the first time since June. It reversed later, but Monday still was the fourth consecutive session of losses for the commodity.

The expert added that the external background was controversial with the European bourses regaining the previous week’s losses and adding up to 2.5%, the U.S. stock market closed for Labor Day, and Chinese indices losing up to 2%.

Veles Broker analyst Yelena Kozhukhova said that gold companies outperformed the market thanks to gold prices stabilizing at $1,935 per ounce. Precious metals producer Polymetal International grew 3.75% and Petropavlovsk Plc, which operates gold deposits in Russia, added 2.70%.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.77	220.5	12.837
Gazprom	-1.44	176.96	6.694
Yandex	+1.6	4963	5.883
Polymetal	+3.75	2004.4	3.757
Lukoil	-1.4	4790	2.984

(75.1823 rubles – U.S. $1)

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