Russian stocks decline depressed by low oil prices

MOSCOW, Apr 7 (PRIME) -- Russian stocks decreased on Thursday pressured by oil prices falling below the psychologically important level of U.S. $40 per barrel, analysts said.

The MICEX fell 0.07% to 1,858.85 and the RTS decreased 0.47% to 859.24.

“On Thursday, Russian stock indices started trading on a positive note thanks to strengthening of oil quotations. However, in the second half of the day assets switched to the mode of consolidation with a negative trend under the influence of worsened foreign background and Brent oil price’s inability to consolidate above $40 per barrel,” InstaForex analyst Igor Kovalyov said.

“The morning optimism faded out with oil, which returned to below $40 per barrel,” Andrei Kochetkov, an analyst at Otkritie Broker, said. Iran’s intention to restore its share on the energy market was among the factors that pushed oil prices down, the analyst said.

Russia’s biggest lender Sberbank, whose net profit almost quadrupled on the year to 100.4 billion rubles in January–March, as calculated under Russian Accounting Standards (RAS), closed 0.47% higher.

Multi-industry holding Sistema fell 1.56% despite a 33.6 billion ruble net profit in 2015 against a net loss in 2014, as calculated under International Financial Reporting Standards (IFRS).

Preferred shares of oil pipeline monopoly Transneft grew 0.66% on reports that the company’s IFRS net profit soared to 143.427 billion rubles in 2015 from 60 billion rubles in 2014.

Shares of independent gas producer Novatek fell 1.65% despite reports that its gas production rose 6.7% on the year to 17.24 billion cubic meters in January–March.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.47	108.51	8.710
Gazprom	-0.21	143.89	3.138
Lukoil	+0.26	2722.00	2.569
Norilsk Nickel	-1.26	8688.00	2.460
Magnit	-0.56	10332.00	1.478

(68.5215 rubles – U.S. $1)

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