Russian stocks edge down as investor enthusiasm fades out

MOSCOW, Apr 19 (PRIME) -- The Russian stock market eased on Thursday as domestic investors took profit awaiting drivers for further growth, analysts said.

The MOEX Russia Index fell 0.49% to 2,230.55 and the RTS decreased 0.08% to 1,153.59.

“The positive mood of Russia’s stock market players has been wearing off. Trade volumes have declined noticeably following several days of explosive growth, and the upward movement has stalled,” Otkritie Broker analyst Andrei Kochetkov said.

Veles Broker analyst Yelena Kozhukhova agreed that investors were taking profit waiting for new signals for growth amid a worsening environment on the global stock market with the key U.S. and European benchmarks seen in the negative territory.

Most blue chips slid after several consecutive days of advance. Top bank Sberbank’s common shares lost 1.12% to 213.45 rubles, the country’s second biggest lender VTB Bank sagged 0.94% to 0.0525 rubles, and independent gas producer Novatek dropped 1.61% to 734.1 rubles.

Power company Enel Russia and metals and mining group Mechel were among the biggest losers, the stocks dropped 2.55% to 1.53 rubles and 1.8% to 125.65 rubles, respectively.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank, common	-1.12%	213.45	29.061
Norilsk Nickel	+0.12%	10685	4.532
Gazprom	-0.93%	143.4	2.956
Lukoil	-0.37%	4015	2.839
Sberbank, preferred	-0.43%	189.69	2.721

(61.5539 rubles – U.S. $1)

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