Russian stock market decreases on lack of drivers

MOSCOW, Nov 24 (PRIME) -- The Russian stock market decreased on Friday amid a lack of drivers, analysts said.

The MOEX Russia Index fell 0.10% to 3,217.76 and the RTS decreased 0.51% to 1,143.15.

“News about corporate reports has already been played back by the market, and the stock market has no other impulses for growth,” Natalya Milchakova from Freedom Finance Global said.

The emerging uncertainty on the oil market is restraining the activity of buyers of Russian shares, and the RTS index is also negatively affected by the renewed weakening of the ruble, the analyst added.

“The Russian stock market was under restrained downward pressure by the end of the main trades on Friday, without finding significant upside ideas,” Veles Capital analyst Yelena Kozhukhova said.

Yandex shares grew the most on the market increasing by 1.47% supported by the news about possible options for buying out the company's stake, the analyst said.

Preferred and ordinary shares of Tatneft grew by 1.11% and by 0.83% respectively on the news about dividends recommendation this week for July–September, Kozhukhova said.

Polymetal's shares continued declining amid fears of the delisting from the Moscow Exchange due to the redomiciliation process, she said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.07	286	6.626
Mechel	-1.51	308.85	6.193
Magnit	+0.02	6260.5	6.042
Polymetal	-15.97	405.2	4.856
Lukoil	+0.51	7295	2.728

(88.1206 rubles – U.S. $1)

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