Russian stocks decrease after fall on US, Asian markets
MOSCOW, Feb 9 (PRIME) -- The Russian stock market declined on Friday on the back of a steep fall of U.S. and Asian indices, and oil price consolidation at the level lower than U.S. $65 per barrel, analysts said.
The MOEX Russia Index fell 1.35% to 2,197.12 and the RTS index decreased 2.06% to 1,185.79.
УAnother drop on the American market has left no chance for Russian market participants,Ф Andrei Kochetkov, an analyst at Otkritie Broker, said.
According to Vitaly Manzhos, a senior risk manager at investment company Nord Capital, Asian markets fell strongly as well and the Brent oil price consolidated below a threshold of $65, which also pressurized Russian assets.
These factors made a decision by the Russian central bank to reduce the key rate to 7.50% from 7.75% unimportant to investors, Manzhos said.
Kochetkov said that oil prices fell at a slower pace on Friday and stocks of Russian oil companies were moderately decreasing.
According to Kochetkov, the Russian market is increasingly oversold and will recover after stability reinstalls on foreign markets.
TMK dove 3.29% on cancellation of an initial public offering (IPO) of affiliate IPSCO Tubulars, he said.
Below are the MOEX Russia IndexТ five most active stocks on Friday:
|Company||Change, %||Last price, rbl||Trading volume, bln rbl|
(57.6736 rubles Ц U.S. $1)