MOSCOW, May 30 (PRIME) -- The Russian stock market fell on Tuesday, as an inflow of Sberbank dividends was insufficient to cushion a negative political background and an oil price decrease strengthening in the evening, analysts said.
The MOEX Russia Index decreased 1.22% to 2,698.75, and the RTS index 1.56% to 1,047.60.
"In spite of a growth at the start of the trading session, the Russian market finished the day with a decrease, as a sell-off on the oil market strengthened," Ivan Kapustyansky from managing company Pervaya said.
"The Russian markets were in the green zone on Tuesday… in the framework of a medium-term upward trend, in spite of a moderately negative external news background thanks to an inflow of Sberbank dividends to the market," Sofya Kirsanova, portfolio manager at managing company Pervaya, said.
The Brent price lost more than 1.5% to below U.S. $76 because of economic uncertainty in the middle of the Russian session, Kirsanova said. At the same time, signals of actions to be made by OPEC+ on Sunday are unclear, and the result of the upcoming meeting may be surprising, she said. As of 5:46 p.m., Moscow time, the July Brent futures price dove 3.04% to $74.03.
The European stock market mood was moderately positive while the U.S.’ mood was positive, Yelena Kozhukhova from Veles Capital said.
According to Kozhukhova, Magnit, earlier put on the third-tier listing by the Moscow Exchange, was supported by the news that it was kept on the index base of the MOEX Russia Index and the RTS and rose 0.67%. The Moscow Exchange might be giving the company time to eliminate a breach consisting of the lack of an acting board of directors.
Sovcomflot increased 3.49%, and Bashneft grew 2.15% on preferred and 6.38% on common shares on dividend expectations, Kozhukhova said.
Below are the MOEX Russia Index’ five most active stocks on Tuesday:
| Company | Change, % | Last price, rbl | Trading volume, bln rbl |
|---|---|---|---|
| Sberbank | -2.38 | 245.19 | 17.892 |
| Lukoil | -0.68 | 5501 | 13.054 |
| ALROSA | +0.72 | 67.42 | 9.646 |
| Gazprom | -1.16 | 161.7 | 5.977 |
| VTB | -2.54 | 0.022615 | 4.728 |
(80.0555 rubles – U.S. $1)
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