16 Jul 2009 19:46

Russian stocks see mixed trends as global markets remain volatile

MOSCOW. July 16 (Interfax) - The Russian stock market displayed mixed trends on Thursday due to conflicting news from the U.S., although the RTS climbed back above 900 points as the ruble strengthened against the Central Bank's dual-currency basket.

The RTS index grew 1.73% to 903.23 points on Thursday, while the MICEX edged down 0.26% to 938.73 points.

RTS futures indicate investors have a moderately negative outlook on the market.

VTB Bank shares grew 2.9^ on the MICEX, Gazprom - 1.2%, Rostelecom - 0.5%, Rosneft - 0.1%, Gazprom Neft - 0.2%, Tatneft - 0.1%, Polyus Gold - 1.8% and Sberbank preferred stock - 0.4%.

Lukoil stock declined 1.5%, MMC Norilsk Nickel - 0.3% and Sberbank common shares - 1.1%.

A high level of volatility was seen on global markets on Thursday due to a slew of conflicting news. The market received support early from JP Morgan's quarterly report, which turned out much better than expected. Positive U.S. unemployment statistics also led to growth in global indices.

The bullish mood, however, was spoiled by the release of worse-than-expected statistics on U.S. capital outflow and business activity later in the day.

In addition, WTI oil for September declined 0.1% to $62.54 on Thursday.

In second-tier trading, Pharmacy Chain 36.6 stock fell 4.2% on the MICEX, RusHydro - 3.6%, NOVATEK - 3.5%, Novolipetsk Steel - 3.4%.

MMK shares rose 7%, AFK Sistema - 4.8% and Vozrozhdenie Bank - 3.9%.

RTS Classic Market trading volume totaled $1.68 million on Thursday, RTS Standard turnover hit a new record of $452.17 million and MICEX volume was 58.2 billion rubles, led by Sberbank with 23.04 billion rubles.