Russian stocks edge down following global stock exchanges

MOSCOW, Nov 9 (PRIME) -- The Russian stock market closed in the negative territory on Tuesday as it had failed to bounce back amid a modestly negative foreign environment, analysts said.

The MOEX Russia Index dropped 0.73% to 4,187.33 and the RTS decreased 0.07% to 1,864.21.

“The MOEX Russia and the RTS indices failed to develop a bounce-back during the day, and stayed in the negative territory due to the pressure of global sales and profit-taking in some shares,” Veles Broker analyst Yelena Kozhukhova said.

Foreign stock exchanges demonstrated moderately pessimistic sentiments, but their influence was restrained by oil prices’ growth attempts, she also said, adding that crude prices are still below the short-term resistance levels and can resume decreasing if there are negative news from the U.S.

Alexei Golovinov, chief analyst at PSB Bank, said that metals stocks were again among the best performers with aluminum producer RUSAL jumping 6.83% thanks to expectations of its inclusion into the MSCI Russia index, Novolipetsk Steel (NLMK) adding 1.74% and Norilsk Nickel growing 1.99%.

Kozhukhova said that the financial sector was under pressure. Global depositary receipts (GDRs) of TCS Group, which includes Tinkoff Bank, dropped 4.65% in correction from previous highs.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.4	356.97	13.986
Gazprom	-0.52	349.63	8.357
Norilsk Nickel	+1.99	22308	5.831
Lukoil	-0.78	7152	5.361
RUSAL	+6.83	73.9	5.063

(71.3975 rubles – U.S. $1)

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