Russian stocks dragged down by negative global background

MOSCOW, Sep 23 (PRIME) -- The Russian stock market edged down on Monday following the downward dynamics of global stock exchanges and weak crude prices, analysts said.

The MOEX Russia Index lost 0.39% to 2,785.46 and the RTS fell 0.28% to 1,373.49.

“The Russian stock market continued downward correction, which began last week, on Monday, thanks to a negative foreign background. Russian stocks were pressured by the energy market environment with the Brent oil price losing around 0.5% and by the dynamics of the Western floors,” senior analyst at Promsvyazbank Bogdan Zvarich said.

The European stock indices lost around 1.2% and the major U.S. benchmarks fell 0.2% by the end of the Russian stock market's session, he added.

Otkritie Broker analyst Andrei Kochetkov said that the European market was discouraged by a continuing decline of Germany’s production activity.

Fertilizer producer PhosAgro, gold producer Polyus and power holding Inter RAO were among the biggest losers sliding over 1.5%.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.99	229.7	6.489
Gazprom	-0.02	230.36	3.883
Lukoil	-1.26	5420	3.374
Norilsk Nickel	+1.12	16308	2.616
Rosneft	+0.11	428.75	2.086

(63.8487 rubles – U.S. $1)

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