Russian stocks edge down on oil decline, mixed global backdrop

MOSCOW, Oct 31 (PRIME) -- The Russian stock market ended the Monday trade with a slight decrease amid an oil price drop and mixed dynamics of the global markets, analysts said.

The MOEX Russia Index fell 0.05% to 2,166.61 and the RTS decreased 0.19% to 1,111.68.

“Trading dynamics were was determined by the neutral and negative external background. Oil was declining during the day and the global markets showed mixed dynamics,” Yevgeny Linchik, head of the stock managing department at managing company Pervaya, said.

The day also bought a number of positive news, in particular, Lukoil's financial report, he added.

Veles Capital analyst Yelena Kozhukhova said that “the Russian stock market finished the day without any significant changes, having received no strong signals to move in one direction or the other.”

According to Freedom Finance Global’s Senior Analyst Natalya Milchakova, the mood on the leading stock floors and especially in the U.S. determines the expectations connected with decisions of the U.S.’s Federal Reserve System (Fed), which it will make upon the results of a meeting on November 1–2.

The markets’ players are worried that another sharp increase in the key rate will lead to a new outflow of capital from risky assets to the U.S. dollar, Milchakova said.

Tinkoff Bank's depositary receipts topped the list of growth leaders on the news of the car sales service launch and Yandex shares rose in price in anticipation of strong July–September results, Milchakova said.

Kozhukhova said that the largest declines were shown by MMK, whose shares fell by 3.23%, Severstal with a fall of 2.99% and NLMK quotations decreasing by 2.76%.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.61	126.19	7.249
Lukoil	-0.41	4681	2.853
Gazprom	-0.43	170	2.504
Norilsk Nickel	+1.14	13702	2.061
Rosneft	-2.57	333	2.008

(61.5343 rubles – U.S. $1)

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