Russian stocks drop following negative dynamics on global floors

MOSCOW, Oct 5 (PRIME) -- The Russian stocks fell on Wednesday in line with the U.S. and E.U. floors, analysts said.

The MOEX Russia Index decreased by 0.81% to 2,029.88, and the RTS Index decreased by 3.47% to 1,061.97.

“The Russian market finished the day in red but managed to retreat from the minimums of the day on the back of corporate news and the weakening of geopolitical tensions,” Veles Capital analyst Yelena Kozhukhova.

Promsvyazbank’s senior analyst Vladimir Lyashchuk said that the Russian stock market decreased following the global stock floors.

The U.S. and European stock floors showed negative dynamics, while oil prices increased about 1.5–2.0% in light the OPEC+ decision to reduce oil output by 2 million barrels per day from November.

RussNeft grew 2.89% with no obvious reasons, Kozhukhova said, adding that earlier this week the company’s board of directors recommended only paying dividends on preferred shares for 2021.

ALROSA gained 5.63% on the news that the E.U. excluded it from the sanctions list, Kozhukhova said.

Polymetal lost 4.59% and Polyus lost 3.23% following a drop in prices for gold and silver.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	-0.92	208.78	9.834
Sberbank	-1.37	109.04	9.305
Yandex	+2.61	2036.80	3.889
Rosneft	-0.04	283.65	3.529
Lukoil	+0.40	4110.50	3.243

(58.7913 rubles – U.S. $1)

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