Russian stocks decrease on low oil, weak ruble

MOSCOW, Jul 17 (PRIME) -- Russian stocks decreased on Monday amid moderately falling oil prices and a depreciated ruble, analysts said.

The MICEX fell 0.08% to 1,959.11 and the RTS decreased 0.47% to 1,039.34.

“A new week on the Russian stock market started with growth of indices, but investors lost the entire enthusiasm by noon returning assets to the red zone under the influence of a mixed foreign background,” InstaForex analyst Igor Kovalyov said.

The Brent oil price is decreasing and failed to overpass the U.S. $49 per barrel notch, the analyst said.

“Uncertainty of foreign investors, who do not hurry with purchases waiting for the development of talks between the U.K. and the E.U., as well as the meeting of the European Central Bank slated for Thursday, is curbing growth impulse on the domestic (Russian) market,” Kovalyov said.

Multi-industry holding Sistema was among outsiders, with its shares falling 2.52% after the holding said it committed a technical default on 3.9 billion rubles of loans as its assets were seized under a 170.6 billion ruble suit filed against the company by oil major Rosneft.

Magnitogorsk Iron and Steel Works (MMK) gained 4.89% after reporting that its steel output increased 3.8% on the quarter to 3.182 million tonnes in April–June.

Gas giant Gazprom rose 0.11% on reports that its gas output increased 18.8% on the year to 248.8 billion cubic meters from January 1 through July 15.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.36	161.98	6.484
Gazprom	+0.11	125.14	2.980
Lukoil	-1.47	2880.00	2.167
Rosneft	-0.66	315.90	1.940
ALROSA	+0.73	96.80	1.833

(59.8806 rubles – U.S. $1)

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