Russian stocks drop on falling oil, decline on global floors

MOSCOW, May 30 (PRIME) -- Russian stocks decreased on Tuesday pressured by falling oil prices and negative dynamics on global floors, analysts said.

The MICEX fell 0.40% to 1,932.91 and the RTS decreased 1.01% to 1,074.81.

“Brent oil is losing over 1% putting pressure on domestic assets, along with mixed foreign background, where European floors paid attention to problems of Greece and threats of early elections in Italy,” InstaForex analyst Igor Kovalyov said.

Forex Club analyst Irina Rogova said that “geopolitical risks connected with upcoming elections in the U.K. in June, as well as possible default of Greece caused lower interest in risky assets. The disappointment of the Russian benchmark is also partially caused by negative from dividend histories.”

Oil major Lukoil rose 1.09% after reporting that its net profit grew 46% on the year to 62.3 billion rubles in January–March, as calculated under International Financial Reporting Standards (IFRS).

Power holding Inter RAO gained 0.86% on reports that its IFRS net profit rose 10% on the year to 18.8 billion rubles in January–March.

Fertilizer producer Acron fell 0.45% after reporting that its IFRS net profit decreased 87.5% on the year to 1.57 billion rubles in January–March.

Below are the MICEX’ five most active stocks on Tuesday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-1.38	161.64	3.677
ALROSA	-1.12	89.29	2.287
Gazprom	-0.82	122.10	1.978
Lukoil	+1.09	2825.00	1.928
Rosneft	-0.73	305.00	1.725

(56.7106 rubles – U.S. $1)

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