Russian stocks decrease amid global markets, oil price slide

MOSCOW, Oct 23 (PRIME) -- The Russian stock market declined at Tuesday’s closing following negative dynamics on foreign trading floors and to the deepening of the oil price fall in the evening, analysts said.

The MOEX Russia Index decreased 0.13% to 2,305.58, and the RTS index fell 0.87% to 1,106.82.

Vasily Oleinik, investment company Finam analyst, said that the markets dove worldwide at the start of Tuesday’s session due to a mounting liquidity crunch.

The European investors were worried by problems with approval of Italy’s budget, while U.S. President Donald Trump continued a warlike rhetoric against China, he said.

Otkritie Broker analyst Andrei Kochetkov said that oil prices plunged on the news that Russia’s production grew by 150,000 barrels per day as compared with the October 2016 level. Production in Saudi Arabia grew as well. A report by the American Petroleum Institute (API) deepened the oil price decline.

Yelena Kozhukhova, Veles Broker’s analyst, said that the dynamics of oil prices defined the negative trend in Russia in the evening.

Oleinik said that Lukoil soared as its weight in the MSCI Russia index rose to 0.72.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.17	181	13.991
Lukoil	+2.06	4770	13.534
Gazprom	-1.34	153.61	4.892
Magnit	-0.63	3465	2.359
Rosneft	-2.21	455	1.989

(65.3065 rubles – U.S. $1)

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