MOSCOW, Oct 28 (PRIME) -- The Russian stocks fell on Monday as two major oil companies – Surgutneftegas and Lukoil – pushed them down, analysts said.
The MOEX Russia Index fell 0.57% to 2,856.91 and the RTS decreased 0.65% to 1,411.92.
Lukoil CEO Vagit Alekperov denied a recent report that Surgutneftegas planned to acquire a stake in Lukoil, buying shares from Alekperov in the first place. Surgutneftegas grew significantly in the past week.
As a result, Surgutneftegas fell 4.25% to 44.60 rubles, while Lukoil decreased 3.29% to 5,916 rubles.
A downward correction of oil prices also did not improve the background for the Russian market. The Brent oil price lost 0.682% to U.S. $61.60 per barrel as of 6.44 p.m. Moscow time.
“Oil prices correct downwards after rapid growth of almost 5% last week…Data of Baker Hughes on reduction of active drilling rigs by a record 17 did not manage to add growth momentum to the prices,” Dmitry Bedenkov, head of the research department at investment company Russ-Invest, said.
Andrei Kochetkov, senior analyst at Otkritie Broker, said that shares of metals giant Norilsk Nickel showed the highest growth among the blue chips rising 2.99% to 17,714 rubles. Indonesia banned exports of nickel ore as exporters tried to bypass the quotas, he said.
Below are the MOEX Russia Index’ five most active stocks on Monday:
| Company | Change, % | Last price, rbl | Trading volume, bln rbl |
|---|---|---|---|
| Surgutneftegas | -4.25 | 44.60 | 13.274 |
| Lukoil | -3.29 | 5916.00 | 11.206 |
| Sberbank | -1.24 | 237.03 | 9.353 |
| Gazprom | -0.94 | 244.40 | 8.616 |
| Norilsk Nickel | +2.99 | 17714.00 | 8.434 |
(63.9966 rubles – U.S. $1)
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