Russian stocks decline as investors flee risky assets

MOSCOW, Oct 11 (PRIME) -- The Russian stock market decreased on Thursday because a U.S. stock market dive on Wednesday caused investor flight from risky assets worldwide, analysts said.

The MOEX Russia Index fell 2.12% to 2,366.47 and the RTS index decreased 1.69% to 1,124.08.

“Yesterday’s trading session on the U.S. stock market finished with a slump. All market indices fell by 3.5–4.5%. The negative mood spread to all trading floors across the globe today,” Vasily Oleinik, investment company Finam’s analyst, said.

He said that the lack of liquidity after sell-offs of U.S. Federal Reserve System (Fed) assets was the reason for the stock market dive in the U.S. The Russian market looked more stable than the rest of emerging markets.

Gaidar Gasanov, analyst of Mezhdunarodny Finansovy Tsentr (MFC), said that oil prices also fell on the back of sell-offs on the stock markets as market players started to take profit. Besides, crude reserves in the U.S. grew above the forecast last week, according to the American Petroleum Institute (API).

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-2.43	185.27	23.161
Gazprom	-2.58	161.92	7.129
Lukoil	-1.99	4804	4.563
Magnit	-1.43	3440	3.134
ALROSA	-2.98	101	2.532

(66.1832 rubles – U.S. $1)

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