Falling oil, ruble, weak trade in EU, US depress Russian stocks

MOSCOW, Nov 13 (PRIME) -- Russian stocks decreased on Friday due to the oil weakening and the ruble depreciation against the U.S. dollar, as well as on the back of a fall of European and U.S. indices, analysts said.

The MICEX fell 0.68% to 1,728.17 and the RTS decreased 2.05% to 814.93.

“Yesterday’s decrease of oil quotations on news on reserves and production in the U.S. and a fall in the European stock market after a speech of Mario Draghi affected the Russian market today,” Vasily Tanurkov, deputy head of investment company Veles Capital’s stock market analysis department, said.

Draghi said that European prices may be volatile and create difficulties for the regulator to increase its asset purchase program that also supported the U.S. dollar rate, Dukascopy Bank SA’s analysts said in a research note.

The foreign background for the Russian market was negative as European and U.S. stock indices demonstrated downward dynamics, Timur Nigmatullin, an analyst at Finam, said.

The fall of the ruble to 66.75 against the dollar by the closing bell particularly depressed the dollar-denominated RTS.

Preferred shares of Russian oil and gas company Surgutneftegas, which has significant reserves denominated in U.S. dollars, rose 4.79% on the back of the ruble depreciation, Tanurkov said.

Hydropower giant RusHydro fell 4.54% on news that the board of directors recommended issuing additional shares worth 154.7 billion rubles that causes dilution of minority interest, the analyst said.

Grocery chain Dixy, the retail revenue of which increased 19.2% in October and 19.8% in January–October, rose 1.52%, Vitaly Manzhos, a senior analyst at Bank Obrazovanie, said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.94%	93.40	7.406
Gazprom	-0.44%	136.00	3.944
Lukoil	-2.74	2485.00	3.186
Magnit	+0.60	11192.00	2.269
Norilsk Nickel	-0.06	9469.00	1.901

(65.4541 rubles – U.S. $1)

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