Russian stocks drop on worsened background, falling oil

MOSCOW, Aug 27 (PRIME) -- Russian stocks dropped on Thursday pressured by deterioration of the external background and falling oil prices, analysts said.

The MOEX Russia Index fell 1.31% to 3,012.01 and the RTS decreased 0.66% to 1,264.86.

“The MOEX Russia Index and the RTS went into a more significant minus by the end of trading along with some deterioration of the foreign background,” Veles Capital analyst Yelena Kozhukhova said.

The foreign background was mixed. Trading in the U.S. started with growth of three main indices, which were adding 0.2–0.7% by the end of the Russian session. Moderately negative moods were seen on European floors.

The nearest futures for Brent and WTI oil accelerated their decline by the evening and were losing slightly over 2% as trading in Russia closed.

Grocery retailer Magnit and children goods retailer Detsky Mir were among growth leaders, adding 1.53% and 1.4%, respectively.

Global depositary receipts of TCS Group dropped 4.13% on profit taking. Hydropower giant RusHydro fell 1.78% despite reporting an almost 60% increase in January–June net profit, and oil major Lukoil lost 1.72% on weak financial results.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Yandex	-1.99	4874.80	11.451
Sberbank	-0.54	226.57	10.932
Gazprom	-1.6	184.48	6.762
Lukoil	-1.72	5187.00	5.139
Norilsk Nickel	-1.79	19618.00	4.664

(75.5379 rubles – U.S. $1)

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