Russian stocks drop in line with global floors, oil prices

MOSCOW, Dec 3 (PRIME) -- Russian stocks decreased on Tuesday in line with negative dynamics of Western floors and oil prices amid uncertainty over the U.S.–China trade deal, analysts said.

The MOEX Russia Index dropped 1.29% to 2,883.48 and the RTS declined 1.31% to 1,414.06.

“The MOEX Russia Index and the RTS Index accelerated decline by the end of trading on Tuesday following the worsening of the foreign background,” Veles Capital analyst Yelena Kozhukhova said.

Trading on the U.S. floors started with a decline of three main indices, which lost 1.3–1.5% by the end of the Russian trading session as President Donald Trump signaled he would be willing to wait for another year before striking a trade agreement with China. Moreover, the president threatened new duties on imports of a number of goods from Argentina, Brazil, and France. In Europe, trading was also on a pessimistic note.

Oil prices were losing over 0.5% by the end of the day amid investors’ uncertainty over prospects of the U.S.–China trade deal and the outcome of the OPEC+ meeting.

Electronics retailer M.Video was among growth leaders, jumping by 3.64%.  

Gold producers Polymetal and Polyus rose 2.05% and 1.61%, respectively, receiving support from higher gold prices.

Power producers WGC-2 and TGC-1 were among outsiders, losing 3.91% and 3.93%, respectively.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	-2.41	247.93	18.949
Sberbank	-1.33	230.66	6.181
Lukoil	-1.94	6040.00	5.560
Norilsk Nickel	+1.23	17304.00	3.847
Surgutneftegas	-1.69	42.54	1.923

(64.4097 rubles – U.S. $1)

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