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Rouble eases in light trade, Gazprom shares firm after results

Credit: REUTERS/MAXIM SHEMETOV

The Russian rouble eased slightly in light trade on Friday, tracking other emerging market currencies, while shares in Gazprom edged up despite a profit fall at the state gas company.

MOSCOW, Nov 29 (Reuters) - The Russian rouble eased slightly in light trade on Friday, tracking other emerging market currencies, while shares in Gazprom edged up despite a profit fall at the state gas company.

The rouble was 0.1% weaker against the dollar at 64.10 RUBUTSTN=MCX at 0753 GMT, close to the 64.19 two-week low hit on Thursday.

Against the euro, the rouble shed 0.1% to 70.58 EURRUBTN=MCX.

The Russian currency has come under pressure this week in the face of a continuing political stand-off between the United States and China, with Beijing reacting angrily to U.S. President Donald Trump signing a law on Wednesday supporting protesters in Hong Kong.

The tensions increase investors' global risk aversion, exerting selling pressure on emerging market currencies.

The rouble also lost support from monthly tax duties paid earlier in the week, which usually prompt export-focused companies to convert part of their foreign revenues into the domestic currency.

However, the rouble remains the third best-performing currency against the dollar this year behind the Ukrainian hryvnia UAH= and Egyptian pound EGP=.

Russian shares were also down. The dollar-denominated RTS index .IRTS dipped 0.2% to 1,436 points and the rouble-based MOEX Russian index .IMOEX eased by 0.2% to 2,2911.5 points.

Gazprom shares firmed by 0.1% to 254.3 roubles ($3.98) GAZP.MM after the company posted a 45% drop in third-quarter net profit.

For Russian equities guide see RU/EQUITY

For Russian treasury bonds see 0#RUTSY=MM

($1 = 63.8345 roubles)

(Reporting by Andrey Ostroukh Editing by David Goodman)

((andrey.ostroukh@thomsonreuters.com; +7 495 775 1242;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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