Russian stocks decrease in line with oil, global floors

MOSCOW, Jun 6 (PRIME) -- Russian stocks decreased on Tuesday in line with oil price dynamics and decline of global floors, analysts said.

The MICEX fell 0.41% to 1,870.04 and the RTS decreased 0.30% to 1,041.23.

“Russian stock indices remain under pressure, which is explained mainly by negative foreign background and oil futures’ inability to return to growth,” InstaForex analyst Igor Kovalyov said.

The Brent oil price is trading at slightly above U.S. $49 per barrel losing around 0.3% during the day, he said.

“Pressure on domestic assets has slightly eased, but investors lack confidence to resume purchases. Restrained mood on foreign floors, where players do not resolve to make trade decisions in expectation of the European Central Bank’s meeting and the U.K. elections, is curbing indices’ growth potential,” Kovalyov said.

Shares of multi-industry holding Sistema dropped 7.45% on reports that the Arbitration Court of the republic of Bashkortostan approved raising oil major Rosneft’s claim to the company to 170.6 billion rubles, Kovalyov said. Finam analyst Timur Nigmatullin said the decline in Sistema’s shares was caused by a speculative reaction to Bashkortostan’s joining Rosneft’s suit against Sistema.

Novorossiysk Commercial Sea Port (NCSP) fell 1.58% after reporting that its net profit decreased 9% on the year to $191.325 million in January–March, as calculated under International Financial Reporting Standards (IFRS).

Below are the MICEX’ five most active stocks on Tuesday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-1.23	154.49	5.331
Gazprom	+0.04	119.05	2.173
Lukoil	-0.48	2721.50	1.690
Norilsk Nickel	+0.14	7898.00	0.980
Transneft pref	-2.5	156000.00	0.890

(56.6152 rubles – U.S. $1)

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