Russian stocks edge down following March 8’s negative dynamics

MOSCOW, Mar 11 (PRIME) -- The Russian stock market opened and traded in the red territory on Monday despite a moderately positive external environment following the negative dynamics of the external markets seen on March 8, analysts said.

The MOEX Russia Index fell 0.43% to 2,465.94 and the RTS slid 0.24% to 1,176.71.

“The Russian stock indices edged down at the opening and continued downward movement despite a generally positive foreign background. As a result, the RTS index hit a new two-week low, and the MOEX Russia Index was close to it,” BCS Broker expert Dmitry Babin said.

BCS Premier investment strategist Alexander Bakhtin said that the Russian benchmarks followed the global market’s negative dynamics seen on March 8 when the domestic stock exchanges had been closed for a public holiday.

The trend also stemmed from sanctions uncertainty with investors taking a wait-and-see approach amid the passing of a fresh anti-Russian sanctions bill in U.S. Congress, Babin added.

Investors are also concerned with uncertainty in trade negotiations between the U.S. and China, Bakhtin said.

Precious metals producer Polymetal International added 0.91% to 743.8 rubles after its board of directors had recommended paying U.S. $0.31 per share, or a total of about $146 million, in dividends for 2018.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.64	205.25	8.674
Norilsk Nickel	-2,37	14100	4.864
Lukoil	-2.04	5561	3.715
Gazprom	-0.2	151.6	2.953
Aeroflot	+2.43	102.1	1.025

(65.9646 rubles – U.S. $1)

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