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Stocks flat on US-China pessimism, rising oil prices

MOSCOW, Dec 4 (PRIME) -- The Russian stock market closed with marginal dynamics on Tuesday as investor worries about the U.S.ЦChina trade conflict resumed but growing oil prices supported the stocks, analysts said.

The MOEX Russia Index grew 0.09% to 2,443.38, and the RTS index increased 0.15% to 1,155.88.

УOptimism faded on all stock markets over the last 24 hours, there is already no sign left of the euphoria that reigned after the G20 summit,Ф Vasily Oleinik, investment company FinamТs analyst, said.

УIt seems that investors start to understand that the truce between the U.S. and China is only temporary and it is quite unlikely that the states will manage reach agreement over the months to come.Ф

Otkritie BrokerТs analyst Andrei Kochetkov said that E.U. foreign policy chief Federica Mogherini reminded that Europe and the U.S. should unite in countering Russia, which was also a negative factor for the Russian market. Sberbank and Gazprom reacted to the statement most of all companies.

The Russian stocks decreased in the morning but oil trading above U.S. $63 per barrel did not allow the negative trend develop, Kochetkov said.

He said that oil market players are beginning to feel certainty that the oil trend will change to positive, as the OPEC and nonmembers will likely agree on prolongation of their output reduction agreement.

Igor Kovalyov, an analyst at InstaForex group of companies, said that Magnit soared after publication of strong unaudited financials for JulyЦSeptember.

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

Company Change, % Last price, rbl Trading volume, bln rbl
Sberbank -0.65 199 11.529
Lukoil +2.17 5209 6.579
Gazprom -0.73 164.2 3.578
Norilsk Nickel -1.18 12666 2.596
Magnit +3.71 3630 2.215

(66.2921 rubles Ц U.S. $1)

End

04.12.2018 19:11
 
 
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