Russian stocks decrease as investors take profit

MOSCOW, Jan 23 (PRIME) -- Russian stocks decreased on Tuesday despite a positive foreign background, as investors decided to take profit and oil price growth did not provide sufficient support, analysts said.

The MOEX Russia Index fell 0.42% to 2,298.95 and the RTS decreased 0.12% to 1,283.75.

“At the start of trading on Tuesday, the MOEX Russia Index again renewed a historic record at the level of 2,315 points, but switched to the defense soon. Investors started taking profit on attractive conditions and dragged the index below the psychological notch of 2,300 points,” InstaForex analyst Igor Kovalyov said.

Brent oil prices still can’t consolidate above U.S. $70 per barrel, providing no support to the Russian stock market, the analyst said.

Retailer Dixy added 1.22% on reports that it plans to buy back 20% own shares from Prosperity Capital Management at 340 rubles per share, Otkritie Broker analyst Andrei Kochetkov said.

Shares of multi-industry holding Sistema grew 0.8% on reports that major shareholder Vladimir Yevtushenkov asked the company to pay him no dividends for January–September 2017.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.17	244.40	10.724
Gazprom	-1	148.80	5.336
Lukoil	-0.74	3841.50	3.172
Norilsk Nickel	-2.52	11198.00	3.139
Rosneft	+0.62	335.00	1.888

(56.6261 rubles – U.S. $1)

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