Russian stock fall on lower oil prices, global investor wariness

MOSCOW, Jan 14 (PRIME) -- The Russian stock market edged down on Monday following the negative dynamics of the global stock exchanges and correcting oil prices, analysts said.

The MOEX Russia Index fell 0.18% to 2,440.15 and the RTS declined 0.14% to 1,147.16.

“The Russian stock market was trading in the negative territory due to the discouraging dynamics of Asian stock exchanges and oil price downward correction. China’s declining exports and imports… was unpleasant and unexpected news for investors which forced them to think about a slowdown of the global economy,” investment company Veles Capital analyst Artyom Mikhailin said.

The Brent oil price fell to around U.S. $60 per barrel after a steep growth at the beginning of the year. European floors were also seen in the red territory during the day due to weak industrial production statistics.

Analyst at Freedom Finance Anastasia Sosnova said that global demand for oil is pressured by uncertainty in trade relations between the U.S. and China and threats of the global economy deceleration.

Aluminum giant UC RUSAL lost 1.36% to 30.86 rubles and power company En+ Group slid 1.28% to 454.6 rubles after a U.S. senator said that Senate would not support lifting the sanctions against the companies of tycoon Oleg Deripaska.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	0	196.8	8.750
Lukoil	0	5200	2.164
Gazprom	-0.32	160.48	2.014
Moscow Exchange	+0.34	88.3	1.321
Norilsk Nickel	-0.36	13389	1.150

(66.9167 rubles – U.S. $1)

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