Russian stocks show mixed trading amid uncertain background

MOSCOW, Apr 19 (PRIME) -- The Russian stock market demonstrated no clear movement on Wednesday due to a calm external environment, analysts said.

The MICEX eased 0.2% to 1,916.50 and the RTS fell 0.8% to 1,068.55.

“After an uneasy Tuesday, quietness has returned to the global markets, which influenced Russian stocks positively. Prime Minister Dmitry Medvedev reported on the government’s work in 2016, he promises a further decline in unemployment and an economic growth revival,” Otkritie Broker analyst Andrei Kochetkov said.

Forex Club analyst Irina Rogova said that the situation is uncertain. Investors look unwilling to open long position amid current geopolitical tensions, but there is a lack of risks for a dramatic fall, too. Stable oil prices act as a short-term support for the Russian market, she added.

The Brent oil price demonstrated a bounce back to above $55 per barrel during the day on OPEC Secretary-General Mohammad Barkindo’s statement that the organization is determined to reduce the global crude reserves to a five-year average.

Metal companies underperformed again due to a high coal price and deflating iron ore. Mining giant Mechel dropped 3.24% to 148.22 rubles, Magnitogorsk Iron and Steel Works (MMK) lost 1.54% to 34.225 rubles and steelmaker Severstal slid 1.56% to 765.4 rubles.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.13%	153.60	6.006
Gazprom	-0.55%	121.55	3.538
Lukoil	+1.08%	2859.00	2.306
Rosneft	-1.05%	315.05	1.458
Norilsk Nickel	-0.04%	8553.00	1.166

 (55.9793 rubles – U.S. $1)

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