* This content was produced in Russia where the law
coverage of Russian military operations in Ukraine
MOSCOW, Aug 4 (Reuters) - The rouble strengthened on
Thursday, heading towards 60 against the dollar, while Russian
stocks were mixed, with Sberbank shares shrugging off new
sanctions and Ozon depository receipts regaining ground after a
By 0806 GMT, the rouble was 0.6% stronger against the dollar
at 60.21, recovering from a three-day low struck
in early Moscow trade. It was down 0.1% at 61.01 against the
The rouble may continue to show sideways movement, said
Promsvyazbank analysts, with possible slight appreciation in the
59-62 range against the greenback.
The rouble is the world's best-performing currency http://fingfx.thomsonreuters.com/gfx/rngs/GLOBAL-CURRENCIES-PERFORMANCE/0100301V041/index.html
so far this year, having received an artificial boost from
capital controls Russia imposed after sending tens of thousands
of troops into Ukraine on Feb. 24.
The strong rouble has helped to limit burgeoning inflation
and opened the door for central bank rate cuts, but is damaging
to budget revenues and export-focused firms that rely on selling
On the stock market, the dollar-denominated RTS index
gained 0.4% to 1,110.5 points and its rouble-based peer
the MOEX Russian index was 0.1% lower at 2,121.9
Moscow-listed depositary receipts in Russian e-commerce firm
Ozon outperformed the market and gained 6.2% after
falling on Wednesday when a huge fire broke out at its warehouse
near Moscow, killing one person and injuring 13.
Nasdaq-listed Ozon is one of Russia's largest
e-commerce players. It was not immediately clear what value or
number of goods were affected.
Sberbank shares were up 0.2%, trimming overnight
losses that came after the Swiss government imposed further
sanctions against Russia over its actions in Ukraine on
Wednesday and targeted Russia's largest bank.
"The Russian market is likely to spend the first half of
August in the red, and today should not be an exception. So far,
we see no positive growth drivers," BCS Global Markets said in a
(Reporting by Reuters; Editing by Christina Fincher)