MOSCOW, Apr 18 (PRIME) -- The Russian stock market edged down on Tuesday amid rising political risks in Europe and Asia, analysts said.
The MICEX fell 1.15% to 1,920.29 and the RTS decreased 1.56% to 1,077.21.
“The dollar sagged and the global stock exchanges slumped after speculations about possible snap (Parliament) elections in the U.K. were added to the list of uncertainties. British Prime Minister Theresa May said the elections may be held on June 8,” Andrei Vernikov, deputy CEO for investment analysis of Zerich Capital Management, said.
The news made another contribution to investor cautiousness ahead of elections in France and on the wake of a referendum in Turkey, which significantly broadened the mandate of President Recep Tayyip Erdogan. Tensions between Russia and the U.S. also remain strong, Vernikov added.
“Russian market participants got into global concerns about escalation of a geopolitical conflict between the U.S. and North Korea,” Anastasia Sosnova, senior analyst at Bank Rossiysky Capital, said.
Russian metal companies were among the strongest losers on the back of the news that prices for iron ore in China dropped to their five-month low. Magnitogorsk Iron and Steel Works (MMK) slid 4.33% to 34.76 rubles despite a sound operating report marking a 1.4% rise in January–March, Novolipetsk Steel (NLMK) went down 3.59% to 101.62 rubles, and Mechel lost 2.88% to 153.19 rubles.
Below are the MICEX’ five most active stocks on Tuesday:
| Company | Change, % | Last price, rbl | Trading volume, bln rbl |
|---|---|---|---|
| Sberbank | -0.38% | 153.40 | 9.737 |
| Gazprom | -1.20% | 122.22 | 2.721 |
| Norilsk Nickel | -3.22% | 8556.00 | 1.644 |
| Lukoil | -1.79% | 2828.50 | 1.358 |
| ALROSA | -2.00% | 88.00 | 1.181 |
(56.2505 rubles – U.S. $1)
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