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Russian stocks correct downwards on oil price, foreign floors fall

MOSCOW, Nov 8 (PRIME) -- The Russian stock market edged down on Friday following a decrease in crude prices and a worsening environment on foreign stock exchanges, analysts said.

The MOEX Russia Index lost 1.17% to 2,973.19 and the RTS slid 1.27% to 1,468.17.

“The Russian stock market shifted to a correction movement pressured by the external environment. A wave of sales on the energy market has sent the Brent crude price to below U.S. $61 per barrel. Negative sentiment also prevailed on the Western stock exchanges,” senior analyst at Promsvyazbank Bogdan Zvarich said. 

Major European stock indices lost around 0.5%, and the key U.S. benchmarks Dow Jones and S&P500 fell 0.2% in the first 30 minutes of trade.

Metals producers Polyus and Severstal were among the biggest losers, sliding around 2.5%.

Veles Broker analyst Yelena Kozhukhova said that Polyus continued its downwards dynamics following declining gold prices.

Aluminum giant UC RUSAL dropped 3.43% after the release of its financial report for July–September marking a 45% fall in the net profit, Kozhukhova also said.

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

Company Change, % Last price, rbl Trading volume, bln rbl
Gazprom -1.75 266 8.934
Sberbank -0.96 240.17 7.342
VTB +3.84 0.046 4.580
Lukoil -1.52 6040 4.410
Norilsk Nickel -0.99 18520 3.427

(63.7298 rubles – U.S. $1)


08.11.2019 19:33
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