Russia’s MICEX flat, RTS rises on ruble, oil price growth

MOSCOW, Nov 22 (PRIME) -- The Russian MICEX stock market index closed almost flat on Wednesday as a positive effect of oil price growth was balanced by strengthening of the ruble, while the U.S. dollar-bound RTS rose due to these factors, analysts said.

The MICEX grew 0.20% to 2,160.16 and the RTS increased 1.00% to 1,159.11.

“Mixed dynamics were seen on the Russian market on Wednesday. The conditions were favorable for growth of the indices in general but the MICEX faced a barrier of a rising ruble, while the RTS was growing on the same factor strengthened by a continued oil price rise,” InstaForex analyst Igor Kovalyov said.

According to Otkritie Broker analyst Andrei Kochetkov, the ruble was strengthening on the back of oil price growth and on statements by Chairwoman of the central bank Elvira Nabiullina. Two OFZ government bond auctions by the Finance Ministry also favored an increase of the currency.

The Brent oil blend surged 0.965% to U.S. $63.17 as of 4:07 p.m. Moscow time, according to the ICE Exchange.

Kovalyov said that investors in Sberbank were taking profit after a rally.

The common shares of VTB and Polyus fell 0.56% and 1.25%, respectively, on news about arrest of their owner Suleiman Kerimov in France under a tax evasion case, Kovalyov said.

Sistema decreased 1.93% as the court of appeal upheld arrest on dividends of its units, the analyst said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.32%	230.25	10.596
Gazprom	+0.06	132.57	3.352
Magnit	+1.83	6720	2.205
ALROSA	-2.13	77.48	1.905
Norilsk Nickel	+2.41	10768	1.774

(59.4604 rubles – U.S. $1)

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