Russian stocks edge down on weaker crude, mixed background

MOSCOW, Oct 18 (PRIME) -- The Russian stock market fell on Thursday following a sharp decline in crude prices and a controversial global background, analysts said.

The MOEX Russia Index dropped 1.36% to 2,378.62 and the RTS slid 1.95% to 1,140.17.

“The Russian stock market was seen in the red territory during the whole trade session, pulled by rapidly deflating oil. The metallurgic and the energy stocks were under the heaviest pressure,” Veles Capital analyst Artyom Mikhailin said.

Crude inventories statistics issued by the U.S. Department of Energy demonstrated a 6.5 million barrel rise in the stocks which triggered a dive of crude prices. The Brent oil price is below a psychologically important mark of U.S. $80 per barrel.

Veles Broker analyst Yelena Kozhukhova said that the domestic market was under a short-term pressure along with other global stock exchanges.

Vasily Oleinik, investment company Finam analyst, that the international market was puzzled with a controversial news flow with the U.S. simultaneously criticizing China, but declining to recognize its currency exchange frauds officially.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-1.57	191	9.497
Gazprom	-2.66	160.18	4.371
Lukoil	-1.64	4694.5	2.157
Magnit	+0.2	3588	1.376
Moscow Exchange	+1.13	92.35	1.306

(65.4026 rubles – U.S. $1)

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