Russian stocks edge down pressured by new sanctions threat

MOSCOW, Feb 3 (PRIME) -- The Russian stock market finished the trading session in the red territory on Wednesday discouraged by the threat of fresh sanctions despite a generally optimistic global environment, analysts said.

The MOEX Russia Index fell 0.5% to 3,343.46 and the RTS decreased 0.86% to 1,387.00.

“The MOEX Russia and the RTS indices stayed in the negative territory despite foreign optimism. The ruble-denominated benchmark consolidated in the middle of the 3,270–3,400 short-term range… having no strength to move upwards,” Veles Broker analyst Yelena Kozhukhova said.

The global market environment was mainly positive, but geopolitical factors, including the threat of new sanctions following declaration of the court’s 2.5-year prison sentence decision in the case of opposition leader Alexei Navalny, prevail on the domestic bourses, she added.

Senior analyst at Promsvyazbank Bogdan Zvarich said that domestic stocks were supported by the energy market dynamics with the nearest Brent oil futures breaking through a U.S. $58.5 per barrel mark, hitting new 2021 highs.

Kozhukhova also said that gold mining holding Seligdar jumped 6.16% on the back of the recent 26% hike of its subsidiary tin producer Rusolovo.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.61	261.55	18.883
Lukoil	+0.19	5526.5	9.473
Gazprom	+1.26	217.12	9.153
Norilsk Nickel	+1.76	25206	7.667
Rosneft	+1.28	488.15	3.108

(75.9051 rubles – U.S. $1)

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