Negative external environment undermines Russian stocks

MOSCOW, Dec 10 (PRIME) -- The Russian stock market edged down on Monday following the negative global environment including U.S.–China trade disputes and the Brexit controversy, analysts said.

The MOEX Russia Index dropped 1.42% to 2,396.84 and the RTS fell 1.85% to 1,136.50.

“Friday’s positivity has faded on the Russian market so it moved following the global negative sentiment. The Brent oil price stayed above U.S. $60 per barrel thanks to the OPEC+ decision made last week, but investors still worry that the effect will be countered by a rapid rise in the U.S. production,” Veles Capital analysts said.

Forex Club analyst Ivan Marchena said that the global market looked mixed with persisting concerns about trade relations between the U.S. and China and British Prime Minister Theresa May postponing the final vote on the Brexit deal.

Retailer Lenta was among the biggest losers for the second consecutive trade session falling 6.46% to 205.5 rubles after its decision to replace CEO Jan Dunning.

Power producer Unipro grew 1.96% to 2.755 rubles as its shareholders approved paying 0.111 rubles per share, or a total of 7 billion rubles, in dividends for January–September.

Magnitogorsk Iron and Steel Works (MMK) added 0.49% to 47.230 rubles on the news that rating agency Standard & Poor's (S&P) had assigned a BBB- long-term issuer credit rating and a A-3 short-term issuer credit rating to it.

Below are the MOEX Russia Index’s five most active stocks on Monday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-1.65	191.8	11.891
Lukoil	-1.77	5173.5	5.607
Gazprom	-1.23	161	2.202
Rosneft	-2.39	428.5	1.732
Norilsk Nickel	-0.9	12630	1.284

(66.9227 rubles – U.S. $1)

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