Falling oil prices, Asian indices depress Russian stock market

MOSCOW, Mar 28 (PRIME) -- Russian stocks decreased on Monday depressed by falling oil prices and Asian indices in thin trade amid holidays in Europe, investors said.

The MICEX fell 0.91% to 1,849.31 and the RTS decreased 1.22% to 851.67.

“Oil prices were the key factor influencing asset dynamics again. Brent quotations have failed to start growing again and to return to earlier highs. The energy source needs new drivers in the form of agreements or signs of a possible fall in the global supply,” Irina Rogova, an analyst at Forex Club, said.

Igor Kovalyov, an analyst at InstaForex, said that the indices fell in thin trade due to Easter celebration in most European countries.

Veles Capital’s analyst Alexander Kostyukov said, “Blue chips’ dynamics reflected investor mood on Asian trading floors, where most indices closed in the red zone.”

The fall of the dollar-denominated RTS was technically sped up by the ruble weakening against the dollar.

Titanium giant VSMPO-Avisma, whose net profit jumped to 14.4 billion rubles in 2015, as calculated under Russian Accounting Standards (RAS), went up 1.74% to 12,890 rubles.

Agricultural company Razgulay rose 4.28% to 16,150 rubles after publishing strong RAS results for 2015 on March 25.

Below are the MICEX’ five most active stocks on Monday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.90	108.12	5.444
Gazprom	-0.64	145.10	1.913
Lukoil	-1.44	2570.00	1.582
Norilsk Nickel	-0.56	8995.00	1.187
Magnit	-2.07	10655.00	0.897

(68.4346 rubles – U.S. $1)

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