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Russian stocks fall amid foreign pessimism, lack of growth drivers

MOSCOW, Feb 13 (PRIME) -- Russian stocks decreased on Thursday dragged by pessimistic moods on global floors, but managed to reduce intraday losses by the end of the day, analysts said.

The MOEX Russia Index fell 0.39% to 3,110.05 and the RTS decreased 0.90% to 1,543.50.

“The MOEX Russia Index and the RTS Index remained in minus by the end of trading, having received no sufficient growth drivers from the outside, but reduced intraday losses,” Veles Capital analyst Yelena Kozhukhova said.

The foreign background was moderately negative. Trading on the U.S. floors started with a reduction of three main indices, which were losing around 0.4–0.5% by the end of the Russian trading session. Investors were concerned about the growing number of people infected with coronavirus in China. Moderately negative moods were also seen on European floors.

Brent and WTI oil quotations were adding around 1% by the evening.

Power producers Enel Russia, Territorial Generating Company-1 (TGC-1), and Wholesale Generating Company-2 (WGC-2) were among growth leaders, adding 5.12%, 5.54% and 6.04%, respectively. Shares of TGC-1 and WGC-2 grew on dividend expectations, Kozhukhova said.

Metals giant Norilsk Nickel and coal producer Raspadskaya were among outsiders, losing 2.08% and 1.97%, respectively.

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

Company Change, % Last price, rbl Trading volume, bln rbl
Gazprom -1.88 233.55 9.882
Sberbank -0.24 253.89 9.314
Norilsk Nickel -2.08 21510.00 5.084
Lukoil +0.07 6470.50 4.605
RusHydro +1.94 0.7461 4.407

(63.0470 rubles – U.S. $1)

End

13.02.2020 19:25