Russian stocks ease as investors take profit from companies

MOSCOW, Nov 12 (PRIME) -- The Russian stock market eased on Tuesday after an unsuccessful attempt to discontinue an earlier falling trend, as investors took profit from shares of some companies, analysts said.

The MOEX Russia Index fell 0.35% to 2,951.16, and the RTS index decreased 0.79% to 1,449.35.

“The MOEX Russia Index and RTS finished in the negative zone mainly due to profit taking from certain shares,” Veles Broker analyst Yelena Kozhukhova said.

Senior analyst at Promsvyazbank Bogdan Zvarich said that Norilsk Nickel and Polyus were the outsiders of the session, with Polyus falling 1.91%. He also said that the decline of the Russian stock market was a result of a downward correction.

Sofya Kirsanova, portfolio manager at managing company Raiffeisen Capital, said that earlier in the day, the Russian market was following the foreign trading floors, while the Asian and European markets grew.

Investors were optimistic ahead of a speech of U.S. President Donald Trump at the Economic Club of New York, where he can confirm or deny readiness to abolish the duties on Chinese goods as part of the first stage of a trade deal, and comment on a decision to postpone introduction of duties on European cars, she said.

Arseny Dadashev, director of the Academy for Management of Finance and Investment, said that Rostelecom rallied after the terms of consolidation of 100% in mobile operator Tele2 were agreed.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	-1.21	257.25	15.983
Sberbank	-0.67	239.87	8.591
Norilsk Nickel	-2.59	17642	5.870
Surgutneftegas	-1.26	47.935	4.804
Lukoil	-0.25	6033	3.831

(63.9121 rubles – U.S. $1)

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