Russian stocks decrease on fresh Western sanctions
MOSCOW, Apr 8 (PRIME) -- The Russian stock market decreased on Friday after introduction of new sanctions by Western states and despite the central bank’s decision to cut the key rate to 17% from 20% and further ruble strengthening, analysts said.
The MOEX Russia Index fell 1.62% to 2,592.72 and the RTS decreased 1.14% to 1,079.99.
“The Russian stock market closed lower on Friday despite the central bank’s decision to reduce the key interest rate to 17% from 20%... and the ruble’s dynamics. Both indices are finishing the week below short-term resistance levels of 2,800 and 1,100,” Veles Broker analyst Yelena Kozhukhova said.
Alexei Golovinov, chief analyst at PSB Bank, said that the market followed the dynamics of the financial sector with TCS Group falling most of all on expectations of sanctions against the bank.
Diamond producer ALROSA was among the worst performers among miners, it lost 11.07% after imposition of full blocking sanctions against the company, he added.
Gold producers Polyus and Petropavlovsk fell significantly after the central bank’s decision to buy gold on the internal market at negotiable prices, which is below the previously set 5,000 per gram thanks to strengthening of the ruble.
Below are the MOEX Russia Index’s five most active stocks on Friday:
| Company | Change | Last price, rbl | Trading volume, bln rbl |
|---|---|---|---|
| Sberbank | -2.56% | 143.72 | 7.042 |
| ALROSA | -11.07% | 82.53 | 4.503 |
| Gazprom | -1.6% | 241.07 | 3.599 |
| Yandex | -0.7% | 2,115 | 1.333 |
| VTB Bank | -1.97% | 0.02236 | 1.246 |
(76.2547 rubles – U.S. $1)
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