Russian stocks demonstrate advance restrained by future sanctions

MOSCOW, Oct 4 (PRIME) -- The Russian stock market failed to continue Monday’s considerable growth and consolidated during the day on Tuesday to close only slightly higher ahead of the E.U.’s new sanctions, analysts said.

The MOEX Russia Index grew 0.22% to 2,046.42 and the RTS increased 0.76% to 1,100.14.

“In spite of our expectations, the MOEX Russia Index decreased during the main session on Tuesday. Investors were likely to be taking profit after significant previous growth so the index failed to rise again,” Alexei Golovinov, chief analyst at PSB Bank, said.

The blue chips looked like outsiders, while the least liquid stocks managed to rise, he added.

Veles Broker analyst Yelena Kozhukhova said that the Russian market failed to develop the upward impulse as investors were waiting for the E.U.’s new sanctions.

Golovinov also said that fertilizers producers Acron and PhosAgro underperformed in light of the Finance Ministry’s plans to impose an export duty on fertilizers, the stocks lost 2.24% and 2.12%, respectively.

Kozhukhova said that precious metals producers Polyus and Seligdar were among the best gainers jumping 6.59% and 3.18% as the gold prices were rising and consolidating above the psychologically important mark of U.S. $1,700 per ounce.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	-2.1	211.3	9.983
Sberbank	-2.7	111.26	8.948
Polyus	+6.59	5925	3.243
Lukoil	+0.33	4090.5	2.546
Yandex	+1.6	1990.4	2.295

(57.5664 rubles – U.S. $1)

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