MOSCOW, Oct 10 (PRIME) -- The Russian stocks slid on Monday as a dividend cut-off in the shares of gas giant Gazprom dealt a serious blow to the market, while the rising geopolitical tensions added fuel to the fire, analysts said.
The MOEX Russia Index fell 1.43% to 1,916.97 and the RTS decreased 4.10% to 963.88.
“The Russian market started the Monday trade with a serious contraction caused by the dividend cut-offs in the shares of Gazprom and Tatneft and by new escalation of the Ukrainian conflict following the terroristic act against the Crimean bridge and strong statements of Russian President Vladimir Putin,” Finam Igor Dodonov said.
Gazprom plunged by 16.06% to 163.80 rubles, while Tatneft lost 3.23% to 354 rubles.
The Russian market regained some ground in the second half of the day, but prospects for further recovery are gloomy as anti-risk sentiment is growing on the foreign stock exchanges while the prices for oil and industrial metals are falling, Dodonov said.
“The Russian stock market was in the red zone as it felt the pressure from Gazprom’s dividend cut-off and the rising geopolitical tensions,” Veles Capital’s analyst Yelena Kozhukhova said, adding that the market had no fundamental reasons to be optimistic.
Freedom Finance Global analyst Vladimir Chernov said that the MOEX Russia Index outperformed the RTS Index because of a serious weakening of the ruble.
Chernov also said that the shares of SPB Exchange gained 11.51% to 109.50 rubles as the bourse announced the launch of trade 42 new shares primarily listed in Hong Kong on Wednesday, which should raise the bourse’s commissions.
Below are the MOEX Russia Index’ five most active stocks on Monday:
| Company | Change, % | Last price, rbl | Trading volume, bln rbl |
|---|---|---|---|
| Gazprom | -16.06 | 163.80 | 17.866 |
| Sberbank | +4.82 | 106.39 | 11.385 |
| Lukoil | +4.25 | 4039.50 | 3.137 |
| Yandex | +2.06 | 1970.00 | 2.578 |
| Rosneft | +3.29 | 277.85 | 2.187 |
(61.2475 rubles – U.S. $1)
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