Russian stocks edge down on lack of positive news, ideas

MOSCOW, Apr 18 (PRIME) -- The Russian stock market again demonstrated negative dynamics on Monday as investors are not ready to acquire local shares until any improvement of the situation in Ukraine appears, analysts said.

The MOEX Russia Index fell by 3.4% to 2,342.63 and the RTS decreased 3.07% to 926.08.

“The MOEX Russia Index fell to below 2,350 after a growth attempt at the beginning of the trading session, in light of rising geopolitical tensions at the previous weekend. A lack of ideas dominates on the local market with investors not ready to buy cheap securities until the situation in Ukraine stabilizes,” Alexei Golovinov, chief analyst at PSB Bank, said.

The trading volumes are at several years’ lows, he added.

Golovinov sees no prerequisites for recovery of the Russian stock market in the news few days.

Veles Broker analyst Yelena Kozhukhova said that pessimism was registered on foreign stock exchanges as well, adding that gold failed to break through the support line of U.S. $2,000 per ounce and can consolidate above the level unless the situation improves.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-5.37%	123.85	7.418
Gazprom	-3.13%	216.99	3.444
Lukoil	-7.03%	4549	1.890
VTB Bank	-5.47%	0.019025	852
Yandex	-5.02%	1880.2	810

(80.0437 rubles – U.S. $1)

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