Negative global background pulls Russian stocks downwards

MOSCOW, Nov 18 (PRIME) -- The Russian stock market tried to restore in the first part of the day on Monday, but then reversed, pressured by a discouraging foreign environment, to close in the negative territory, analysts said.

The MOEX Russia Index slid 0.35% to 2,924.48 and the RTS dropped 0.44% to 1,443.02.

“Downward correction was again seen on Monday. Bears were supported by the energy market with the Brent oil price falling over 1% to U.S. $62.6 per barrel. Dynamics of the Western stock exchanges encouraged the sales as well,” senior analyst at Promsvyazbank Bogdan Zvarich said.

The Russian market tried to continue restoration in the first part of the day, but reversed due to the pressure of the worsening external environment, he also said. The core European stock indices lost around 0.6%, and the main U.S. benchmarks demonstrated flat trading at the opening.

Veles Broker analyst Yelena Kozhukhova said that Internet company Yandex and coal producer Raspadskaya were among the top performers.

Yandex jumped 11.39% on the news that it approved a buyback program for $300 million of class A shares and that a draft law, prohibiting foreign companies from holding more than 20% in significant information resources in the Russian segment of the Internet, was withdrawn from the State Duma, parliament’s lower chamber, for reworking.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	-0.75	246.15	13.114
Yandex	+11.39	2525.2	10.527
Sberbank	-1.06	237.45	7.861
Norilsk Nickel	-1.82	17358	4.132
Lukoil	-1.36	6077	4.125

(63.8881 rubles – U.S. $1)

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