Russian stocks ease on unfavorable environ, falling oil prices

MOSCOW, Oct 4 (PRIME) -- The Russian stock market contracted on Wednesday following foreign bourses and oil prices, analysts said.

The MOEX Russia Index fell 0.31% to 3,134.25 and the RTS decreased 0.24% to 991.35.

“The MOEX Russia Index still stays above 3,100, but is not making any attempts to grow. Today growth was hindered by contraction of the oil price and by weak dynamics of the global markets. The market also feels pressure from a possible increase of the key rate at the next meeting of the central bank’s board,” Sofya Kirsanova, portfolio manager at managing company Pervaya, said.

The U.S. stock markets fell on Tuesday because of a possible further toughening of the monetary policy by the U.S. Federal Reserve System (Fed), Kirsanova said.

Finam analyst Alexei Kalachyov said that the mood of the global stock markets was negative following the Tuesday fall of the U.S. stock market triggered by the U.S. treasuries yield growth and statements by the Fed’s representatives that supported prolongation of the high rates policy.

“The negative mood prevailed again on the markets on Wednesday,” he said, pointing out that the yield on 10-year U.S. treasuries grew, while the prices for the Brent oil blend fell.

Kalachyov also said that the depositary receipts of MD Medical Group, operator of Russia’s Mother and Child maternity hospital and clinic chain, gained 2.87% to 859 rubles in reaction to the company’s intent to change its listing status on the Moscow Exchange to primary.

The receipts of fertilizer producer PhosAgro lost 0.95% to 1,161.80 rubles after the company’s shareholders failed to agree on the dividends for January–June. The board of directors of the company is to draft a new recommendation now, he said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Lukoil	-0.49	6721.50	5.034
Sberbank	+0.01	259.68	3.880
Surgutneftegas	+0.39	33.50	3.866
Gazprom	-0.57	165.80	3.021
NLMK	+1.55	212.52	2.585

(99.2677 rubles – U.S. $1)

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