Russian stocks decrease following dive of global markets

MOSCOW, Feb 6 (PRIME) -- The Russian stock market declined on Tuesday as investors followed a dive of U.S. and European stock market indices while comparably high oil prices held down the negative impact, analysts said.

The MOEX Russia Index fell 1.70% to 2,238.24 and the RTS index dropped 2.46% to 1,232.69.

“A correction on the Russian stock market continues in response to further sag of global benchmarks. Taking into account the fact that American trading floors have experienced the strongest decline over the last six years, dynamics of the domestic indices looks quite moderate,” Igor Kovalyov, an analyst at InstaForex group of companies, said.

“The peak of sales fell for the opening of the session, the same as on Monday, and the situation somewhat stabilized by noon, the leading indices managed to compensate for a part of the decline,” Kovalyov said.

Vasily Oleinik, an analyst at investment company Finam, said that U.S. stock market futures decreased by 10–13% in several days and by 8–9% over the last 24 hours, as a result, market indices dove worldwide.

Kovalyov said that oil quotations were trying to consolidate and the dynamics held down the negative factors for the Russian market.

Andrei Kochetkov, an analyst at Otkritie Broker, said that the earlier published U.S. Kremlin Report warned the Russian elites of possible troubles during foreign investments, so they might become increasingly interested in domestic assets.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.29	258.94	21.953
Gazprom	-2.03	141.59	7.390
Lukoil	-2.57	3655.5	6.603
Norilsk Nickel	-2.36	11308	3.489
Magnit	-3.33	4785	3.043

(56.6278 rubles – U.S. $1)

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