Stocks close mixed in thin trade on higher ruble, oil price

MOSCOW, Dec 26 (PRIME) -- Russian stocks closed mixed on Tuesday in thin post-Christmas trade as oil prices and the ruble rose, analysts said.

The MOEX Russia Index fell 0.38% to 2,097.03 and the RTS increased 0.09% to 1,144.97.

“The MOEX Russia Index fell largely due to the growth of the ruble, which is a negative factor for exporting companies. Moreover, the U.S. indices were in the red zone (during the day), which added no positive mood to the market…But oil prices continue their growth,” Irina Rogova, an analyst at Forex Club group of companies, said.

Yelena Kozhukhova, an analyst at Veles Broker, said that the weakening of the U.S. dollar against the ruble supported the RTS index.

“The ruble resumed growth against the U.S. dollar and euro after a slight contraction at the beginning of the day. The Russian currency was supported by the tax payment period and by expectations of the last OFZ bond offer this year on Wednesday. Moreover, investors exploited the absence of European players at the market due to Christmas holidays,” Kozhukhova said.

Andrei Kochetkov, an analyst at Otkritie Broker, said that trade volume was even lower than on Monday due to the absence of European traders.

Shares of national air carrier Aeroflot rose 0.11% to 139 rubles as the high season for tourists brings hopes for an increase in revenue, Kochetkov said.

But the majority of Russia’s blue chips were in the red: gas giant Gazprom lost 0.58% to 131.20 rubles, oil majors Lukoil and Rosneft contracted by 0.96% to 3,288 rubles and 0.49% to 296.55 rubles, respectively, metals giant Norilsk Nickel fell 0.24% to 10,269 rubles, and steelmaker Severstal fell 0.74% to 869.20 rubles. Kochetkov said that local investors are likely to sell Russian stocks until the end of the year as they fear that the U.S. administration may toughen its sanctions during the New Year holidays.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.12	223.57	2.739
Gazprom	-0.58	131.20	1.671
Magnit	+0.11	6244.00	0.511
Lukoil	-0.96	3288.00	0.491
VTB	-0.95	0.04685	0.420

(58.1989 rubles – U.S. $1)

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