Russian Stocks Mixed as Crude Prices Fall, Global Indices Decline

Strategic Insights -

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)