Russian stocks correct downwards on explosion in Syria

MOSCOW, Apr 27 (PRIME) -- The Russian stock market decreased on Thursday after five consecutive positive trading sessions as an explosion near the Damascus airport undermined the interest in risky assets, and falling oil prices added to the bearish mood, analysts said.

The MICEX fell 0.75% to 2,011.67 and the RTS decreased 1.09% to 1,106.92.

“After an impressive rise demonstrated during the last five trading sessions, the Russian indices have switched to a correction mode, spurred by ambiguity of the external background and remaining pressure on oil quotations,” Igor Kovalyov, an analyst at InstaForex group of companies, said.

Israel launched airstrikes on Syrian positions, which as Timur Nigmatullin, an analyst at investment company Finam, said took its toll on the demand for risky assets.

Nigmatullin said that the MICEX lost more, while the decrease of the RTS was cushioned by the strengthening of the ruble.

Yevgeny Loktyukhov, head of Promsvyazbank’s research department, said that Mechel rallied after publishing a financial report.

Transneft’s shares rose on promises of large dividends.

Kovalyov said that MMK decreased as the company announced plans to place an about 3% stake in London and Moscow, but will delay the move due to the current volatility of its price.

Below are the MICEX’ five most active stocks on Thursday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	-0.01	133.41	13.379
Sberbank	-0.22	164.69	7.193
ALROSA	+1.16	96.75	2.132
Lukoil	-2.86	2885.00	2.014
Norilsk Nickel	-1.57	8750.00	1.705

(56.3131 rubles – U.S. $1)

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