Russian stocks edge down hit by decreasing oil prices

MOSCOW, Jul 12 (PRIME) -- The Russian stock market slumped on Thursday pulled down by a further fall in crude prices, analysts said.

The MOEX Russia Index fell 0.60% to 2,322.06 and the RTS slid 0.75% to 1,177.50.

“The Russian stock market was pressured by sliding oil with the Brent oil prices edging down to below $74 per barrel,” analyst at Freedom Finance Anastasia Sosnova said.

The crude prices were discouraged by the news that Libya reopened the Abu Attifel oilfield shut for over two weeks.

The positive global background with China initiating a new round of trade negotiations with the U.S. failed to support the domestic market.

Diamond mining giant ALROSA lost a significant 5.42% to 100.25 rubles after it said that an unsanctioned blast had killed a miner at its Udachny mine.

Metals producers outperformed the market. Norilsk Nickel grew 0.88% to 11,359 rubles, Mechel added 0.87% to 104.25 rubles, and Magnitogorsk Iron and Steel Works (MMK) increased 0.66% to 44.34 rubles.  

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.43	226.6	9.181
Lukoil	-1.03	4236	3.010
Gazprom	+0.21	145.08	2.848
Norilsk Nickel	+0.88	11359	2.341
ALROSA	-5.42	100.25	1.861

(62.0980 rubles – U.S. $1)

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