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|
(63.7298 rubles – U.S. $1)