Russian stock market falls as ruble collapses

MOSCOW, Jul 5 (PRIME) -- The Russian stock market decreased on Wednesday amid dividend cut-offs and falling ruble rate against the dollar, euro and yuan, analysts said.

The MOEX Russia Index fell 0.11% to 2,805 and the RTS decreased 1.83% to 969.33.

‘The main news of the local market was the collapse of the Russian currency against the dollar and yuan after the publication of the statistics of the Finance Ministry, which showed a decrease in oil and gas revenues of the state budget by 47% to 3.38 trillion rubles in January–June, which was less than planned,” Freedom Finance Global’s Senior Analyst Natalya Milchakova said.

According to Veles Broker analyst Yelena Kozhukhova, the Russian stock market on Wednesday remained under downward pressure ahead of dividend cut-offs and amid new lows for the ruble by the end of main trading.

“The ruble on the Moscow Exchange was losing about 2% against the dollar, euro and yuan by late afternoon, trading at 91 rubles, 99 rubles and 12.54 rubles, respectively. In the course of the trading the Russian currency made its minimum since March 2022 against the dollar and the euro, and reached its lowest value since April 2022 against the yuan,” she said.

Mechel’s preferred and common shares performed the best on the market supported by the news that the Finance Ministry was not discussing an increase of the mineral extraction tax for coal in October–December, Kozhukhova also said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Lukoil	+1.27	5275	5.812
Sberbank	+0.15	241.06	4.072
Magnit	+0.87	5316	3.624
Gazprom	-0.09	165.35	2.131
Polyus	+0.7	10795	1.977

(89.5450 rubles – U.S. $1)

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