Russians stocks close mixed amid US floors’ growth, weak ruble

MOSCOW, Dec 12 (PRIME) -- Russian stocks closed mixed on Tuesday with the MICEX growth supported by a rise of U.S. trading floors and a short-lived rebound of Brent price to above U.S. $32 per barrel, while the fall of the RTS was secured by the ruble depreciation against the dollar, analysts said.

The MICEX rose 0.46% to 1,690.30 and the RTS decreased 0.54% to 695.32.

The rise of U.S. stock indices provided some support to Russian stocks, Bogdan Zvarich, an analyst at investment holding Finam, said.

“An oil price rebound to above $32 per barrel of Brent was the main driver for the Russian market. The growth was caused by a statement made by the Nigeria’s petroleum minister (Ibe Emmanuel Kachikwu) that the OPEC countries are considering the possibility of holding an extraordinary meeting in early March already,” Vasily Tanurkov, an analyst at investment company Veles Capital, said. “Halted devaluation of the yuan was an additional factor that supported oil quotations,” he added.

Brent decreased 2.76% to $31 per barrel at 7:28 p.m. Moscow time, according to the ICE trading platform.

The fall of the dollar-denominated RTS was technically secured by the ruble weakening to 76.55 against the dollar by the closing bell, while Brent price fell to $31 per barrel.

Stocks of Russian oil and gas companies rose on the statement of Kachikwu, conference president of OPEC, Andrei Kochetkov, an analyst at Otkritie Broker, said.

Independent gas producer Novatek rose 3%, oil and gas producer Surgutneftegas, which has significant reserves in foreign currency, rose 2.71%, and gas giant Gazprom increased 1.64%.

National exporters were under pressure on the back of the current slowdown in the Chinese economic growth, Kochetkov said. Magnitogorsk Iron and Steel Works (MMK) decreased 2.14% and Novorossiysk Commercial Sea Port (NCSP) fell 1.5%.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.75	91.71	10.044
Gazprom	+1.64	133.54	5.293
Lukoil	-1.52	2223.50	2.631
Magnit	-2.81	10367.00	2.020
Norilsk Nickel	-0.55	8553.00	1.979

(75.9507 rubles – U.S. $1)

End