Russian stocks decrease on EU markets', oil price fall

MOSCOW, Dec 6 (PRIME) -- The Russian stock market declined on Tuesday together with the stock markets in Europe and in the oil prices, analysts said.

The MOEX Russia Index decreased 0.55% to 2,196.24, and the RTS index fell 1.58% to 1,097.09.

"Risk appetite remained subdued on the foreign stock markets on Tuesday, while the oil prices resumed their fall in spite of some bullish factors. The MOEX Russia and the RTS indices started losing against this background, while the U.S. dollar indicator (the RTS index) reached its low since the start of November due to a weaker ruble," Veles Capital analyst Yelena Kozhukhova said.

The Euro Stoxx 50 index lost about 0.2% in the middle of the session because of the absence of global growth drivers. The nearest Brent and WTI futures lost about 1% in the middle of the day, approaching U.S. $80.86 per barrel and $73.62 per barrel respectively. The U.S. market was neutral with the S&P 500 index remaining flat in the middle of the Russian session.

Pavel Pakhomov, head of the research center of the SPB Exchange, said that the purchasing managers' indices by S&P Global and the Institute for Supply Management for November came out stronger than the market expected, which points to low effectiveness of the U.S. Federal Reserve System policies.

According to Kozhukhova, in Russia, Mechel grew 1.41% after President Vladimir Putin suggested selling more coal eastwards by April 15, 2023 and raising the number of container trains departing eastwards. Sovcomflot and Novorossiysk Commercial Sea Port (NCSP) increased 1.63% and 1.61% respectively, after the government pledged to consider changing sea container traffic tariffs until January 15.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.28	141.6	5.623
Magnit	-2.45	4474.5	2.992
Gazprom	-0.02	165	2.009
Lukoil	+0.11	4624	1.655
Polyus	-0.11	7438.5	1.520

(62.1849 rubles – U.S. $1)

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