Russian stocks close lower to follow worsening foreign environment

MOSCOW, Aug 11 (PRIME) -- The Russian stock market was trading in the positive territory during the day, but reversed downwards on Thursday evening following the dynamics of the U.S. bourses and in light of negative corporate and global news, analysts said.

The MOEX Russia Index fell 0.85% to 2,133.11 and the RTS decreased 1.08% to 1,106.29.

“The Russian stock market finished the trading session with a modest fall after positive dynamics during most of the day as it had failed to gain the growth momentum,” Veles Broker analyst Yelena Kozhukhova said.

“The MOEX Russia Index and the RTS could not consolidate near the day’s peaks and bounced back from the resistance lines of 2,160 and 1,130 as sales in the most liquid shares persisted due to the market’s vague outlook,” she added.

At first, purchases prevailed on the U.S. stock exchanges thanks to the weakening inflation pressure, including in the production sector. But then, the U.S. market rebounded from the intraday peaks, which impacted the Russian market, Kozhukhova also said.

Freedom Finance Global senior analyst Natalya Milchakova explained the Russian market’s downward trend by publication of weak corporate reports and some negative global news including new anti-coronavirus restrictions in India.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
SPB Exchange	-6.95	176.8	6.761
Gazprom	-2.63	174.1	4.738
Sberbank	-2.18	123.45	3.873
Polymetal International	+2.47	332	2.901
Raspadskaya	-7.24	295.45	2.451

(60.4542 rubles – U.S. $1)

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