Russian stocks decrease on oil price fall, ruble strengthening

MOSCOW, Nov 16 (PRIME) -- The Russian stock market fell on Thursday on a decline of oil prices and continuing strengthening of the ruble, analysts said.

The MOEX Russia Index fell 0.81% to 3,189.08, and the RTS index declined 0.44% to 1,129.22.

"Lower oil prices are a negative factor. Continuing strengthening of the ruble, which hurts exporters’ foreign currency revenue, also sours the mood: the ruble – U.S. dollar pair decreased below 89 rubles per U.S. dollar yesterday for the first time since July 2023. A blues on the external markets also hurts (the Russian market)," Finam analyst Anna Builakova said.

The Brent oil blend lost 0.09% to U.S. $81.08 per barrel, while Urals declined to $68.87. The discount to Brent rose above 15%, Freedom Finance Global analyst Vladimir Chernov said.

Ozon grew 1.05% after reporting sales more than doubling to 450.8 billion rubles and revenue rising 77% on the year in July–September, Chernov said.

Seligdar was under the pressure on the news that it plans to cut its stake in Rusolovo to 85.12% from 95.12%, the analyst said. The shares fell 2.36%. Some investors could have sold Seligdar to buy the Uzhuralzoloto Group of Companies (UGC) during its initial public offering and diversify their portfolios, he added.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Mechel	+1.98	335.6	22.291
Sovcomflot	+1.02	125.15	6.804
Mechel pref	+4.48	380	6.768
Sberbank	-0.5	281.47	5.713
Lukoil	-1	7152	3.094

(89.4565 rubles – U.S. $1)

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