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Russian stocks correct downwards on oil price decrease

MOSCOW, Nov 8 (PRIME) -- The Russian stock market declined on Thursday after growth earlier in the week on the absence of good news and falling oil prices, analysts said.

The MOEX Russia Index fell 0.27% to 2,438.62 and the RTS index decreased 0.77% to 1,155.27.

УThe U.S. elections left behind, we are facing the old problems: trade wars, instability of budgets of several countries, the U.S. threats of sanctions against the opponents and so on. Quite strong reports by Russian banks could have become a reason to buy shares of financial organizations but the risks of adoption of the second wave of restrictions over the Skripal case make investors think twice,Ф Otkritie Broker analyst Andrei Kochetkov said.

Alor Broker said that the MOEX Russia Index corrected downwards after reaching a resistance level of 2,450, a monthly maximum, while the RTS index remained above 1,150.

Kochetkov said that the Brent price grew to U.S. $73 per barrel after NorwayТs frigate Helge hit an oil tanker, but later the oil prices slid to $71.43 on the back of growth of U.S. crude reserves, according to Alor Broker.

According to Kochetkov, Aeroflot declined 2.09% on expectations of extension of the sanctions. Prohibition of flights to the U.S. was mentioned in a draft.

ALROSA increased after reporting a 33% rise of the net profit for JanuaryЦSeptember, Kochetkov said.

Below are the MOEX Russia IndexТs five most active stocks on Thursday:

Company Change, % Last price, rbl Trading volume, bln rbl
Sberbank +0.49 202.89 19.186
Gazprom -0.22 157.51 3.141
Lukoil -0.28 5160 3.039
Rosneft -1.88 475 1.681
ALROSA +0.23 103.24 1.455

(66.0918 rubles Ц U.S. $1)

End

08.11.2018 19:11
 
 
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