Russian Stocks Mixed as Crude Prices Fall, Global Indices Decline

The Russian stock market exhibited mixed trends on Tuesday, with most stocks experiencing a moderate downward correction in response to falling oil prices and a decline in U.S. stock prices. Despite this, the RTS index reached its highest level this year, while the MICEX edged down slightly. The ruble strengthened against the Central Bank's bi-currency basket, causing the dollar-denominated RTS to increase.

Key Takeaways:

• The RTS index rose 1.86% to 871.58 points on Tuesday, its highest level this year, while the MICEX edged down 0.08% to 957.05 points.
• The biggest gainers on Tuesday were Gazprom (RTS: GAZP) with a 5.8% increase, MMC Norilsk Nickel (RTS: GMKN) with a 3.5% increase, and Lukoil (RTS: LKOH) with a 2.9% increase.
• Gazprom shares rose 4.1% to 161.3 rubles on the MICEX, Polyus Gold (RTS: PLZL) rose 3.1%, and VTB (RTS: VTBR) rose 0.6% to 3.32 kopecks.
• Falling oil prices caused Lukoil shares to fall 2.8% on the MICEX, Gazprom Neft (RTS: SIBN) to fall 1.4%, Rosneft (RTS: ROSN) to fall 2.1%, and Surgutneftegas (RTS: SNGS) to fall 1.1%.
• Seventh Continent (RTS: SCON) shares soared 30% after French retailer Carrefour signed a preliminary agreement to buy a significant stake in the retailer and its real estate.
• Vladimir Putin, Russian President, was not mentioned in relation to this event or market trends.

Statistics:

• RTS index: 871.58 points (1.86% increase)
• MICEX: 957.05 points (0.08% decrease)
• Volume on RTS Classic Market: $4.184 million
• Volume on MICEX: 50.4 billion rubles
• Average share price of Gazprom: 161.3 rubles
• Increase in VTB shares: more than 5% on rumors of limited buyback
• Decline in Lukoil shares: 2.8%
• Decline in Gazprom Neft shares: 1.4%

Sources:

• Interfax, May 5 (no specific article date or edition mentioned)
• Eng.editors@interfax.ru (editorial staff email)