Russian stocks decrease on lack of growth drivers

MOSCOW, Feb 28 (PRIME) -- Russian stocks decreased on Thursday amid an unfavorable foreign background and a lack of growth drivers, analysts said.

The MOEX Russia Index fell 0.22% to 2,485.27 and the RTS decreased 0.23% to 1,188.28.

“The MOEX Russia Index and the RTS Index remained in a small minus by the end of trading on Thursday due to a lack of compelling reasons for purchases,” Veles Capital analyst Yelena Kozhukhova said.

Freedom Finance analyst Anastasia Sosnova said the foreign background was moderately negative. Asian stock indices decreased after the U.S.–North Korea talks suddenly ended without an agreement. Uncertainty around the U.S.–China trade talks also does not add optimism, she said.

Multi-industry holding Sistema and coal producer Raspadskaya were among growth leaders, adding 2.89% and 2.01%, respectively.

National top lender Sberbank’s common and preferred shares grew 1.17% and 1.33%, respectively, receiving support from publication of solid financial results and CEO German Gref’s statement about the possibility of “good” dividends for 2018, Kozhukhova said.

Hydropower giant RusHydro fell 0.64% despite reports that its net profit rose 1.6% to 36.726 billion rubles in 2018, as calculated under Russian Accounting Standards (RAS).

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+1.17	207.80	12.861
Gazprom	+1.66	158.99	5.473
Lukoil	-1.42	5501.00	4.704
Norilsk Nickel	-1.31	14114.00	2.509
Tatneft	-2.37	776.20	1.834

(65.7570 rubles – U.S. $1)

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