Stocks close flat on rising oil price, falling foreign markets

MOSCOW, Oct 9 (PRIME) -- The Russian stock market demonstrated marginal dynamics on Tuesday as pessimism from falling foreign markets was balanced by rising oil prices, analysts said.

The MOEX Russia index fell 0.43% to 2,443.83 and the RTS index grew 0.11% to 1,159.47.

“The Russian stock market indices have managed to show almost neutral dynamics despite an external negative backdrop on the back of high oil prices,” Vasily Oleinik, investment company Finam’s analyst, said.

The situation on global stock markets deteriorated as sell-off continued on the U.S. and European fixed-rate markets, he said. The U.S. treasuries’ yield increase was probably due to Ñhinese sales and in this case, investors must prepare for a “true chaos,” Oleinik said.

The Asian markets closed lower on Tuesday.

Forex Club analyst Ivan Marchena said that the Brent oil price reached the U.S. $84.5 per barrel after statements on reduction of output in the Gulf of Mexico and exports in Iran.

According to Oleinik, the international banking business has entered a storm with Russia’s VTB falling 2.07% to a 4-year minimum of 0.0384 rubles.

Veles Capital’s analysts said that Magnit reached a new historical low on Tuesday, possibly on the back of approval of a deal with pharmaceuticals distributor SIA Group.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.31	191.25	16.578
Gazprom	+0.17	172.11	8.026
Magnit	-5.01	3582	2.622
Lukoil	+0.11	4971.5	2.185
Rosneft	-1.32	473.1	1.990

(66.9685 rubles – U.S. $1)

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