Russian stocks slip amid uninspiring OPEC oil steps statements

MOSCOW, Nov 18 (PRIME) -- The Russian stock market closed with a slight decrease on Friday because investors ignored news, and in particular, the statements after an informal meeting of OPEC and non-OPEC oil making countries, analysts said.

The MICEX fell 0.22% to 2,038.29 and the RTS decreased 0.51% to 990.77.

“The external signals have remained contradictory and local news has been not enough to inspire investors,” Andrei Kochetkov, an analyst at Otkritie Broker, said. The MICEX was almost flat during the day at low trading volumes. Sales accelerated by the end of the session, he said.

Vitaly Manzhos, a senior analyst at Bank Obrazovanie, said that the verbal interventions made after an informal meeting of OPEC and non-OPEC oil makers’ representatives were reassuring but the scope of an oil price increase on Friday signified that it was only a correction after the recent losses.

Mechel continued a downward correction after an earlier growth, Manzhos said. Other metals producers were falling as well, he said.

Inter RAO was the growth leader, rising 1.74% on the back of a listing in MSCI Russia, the stocks have reset their long-term maximums, Manzhos said.

Igor Arnautov, an analyst at investment company Veles Capital, said that M. Video increased 2.33% as household appliances’ sales are expected to grow amid approaching New Year holidays.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.2	150.05	4.101
Gazprom	-0.5	146.96	2.159
Norilsk Nickel	-1.41	10144	1.495
Moscow Exchange	+3.32	112.62	1.357
Lukoil	-0.66	3084.5	1.232

(64.9154 rubles – U.S. $1)

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