Stronger dollar pushes oil prices, Russian stocks lower

MOSCOW, Aug 30 (PRIME) -- Russian stocks decreased on Tuesday on the back of lower oil prices after U.S. macroeconomic statistics were released and the dollar strengthened, analysts said.

The MICEX eased 0.05% to 1,985.69 and the RTS decreased 0.35% to 958.67.

“The Russian stock market fell in the evening following oil prices. As for oil, it took a lead from the dollar, which was supported by U.S. macroeconomic statistics,” Vasily Tanurkov, deputy head of the stock market research department at Veles Capital, said.

Yevgeny Loktyukhov, head of the capital market analysis department at Promsvyazbank, said that the MICEX was close to 2,000 during the trading session, but was depressed after the U.S. stock market opened, the Conference Board published a higher than expected consumer confidence index, and oil prices fell sharply.

Vitaly Manzhos, a senior analyst at Bank Obrazovanie, said that Russian flagship carrier Aeroflot was still supported by the publication of financial results for January–June and operating results for July and January–July. The airline rose 5.1% to 99 rubles.

Uncut diamond mining giant ALROSA was also backed by strong financial results for January–June and increased 2.38% to 75.61 rubles.

Titanium producer VSMPO-Avisma, which grew 3.24% to 420 rubles, was supported by the news that its net profit under International Financial Reporting Standards (IFRS) rose 26% in January–June.

Multi-industry holding Sistema, whose net profit plunged 99% to 149 million rubles in April–June, went down 0.24% to 0.055 rubles.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.26	143.18	7.288
Gazprom	-0.45	135.59	2.215
Aeroflot	+5.10	99.00	1.212
VTB	+1.22	0.0682	0.995
Lukoil	-0.03	2989.50	0.969

(65.0810 rubles – U.S. $1)

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