Russian stocks fall as oil price starts to decrease again

MOSCOW, Nov 20 (PRIME) -- The Russian stock market fell on Tuesday as the oil price resumed its decline after Monday’s stabilization and on the news on continuing trade war between the U.S. and China, analysts said.

The MOEX Russia Index fell 1.36% to 2,341.60, and the RTS index decreased 1.66% to 1,116.85.

“The external background remained negative due to deterioration of the U.S. statistics and market doubts about continuation of a strong profit growth of leading companies. Naturally, the trade dispute between the U.S. and China is still there,” Otkritie Broker’s analyst Andrei Kochetkov said.

Forex Club analyst Ivan Marchena said that this time investors were worried by the U.S. statements that it will not change the attitude to relations with China and is ready to exert more pressure.

Kochetkov said that market participants are also losing confidence in a fast recovery of oil quotations to U.S. $70, making Russian oil producers the stock market outsiders of Tuesday.

Brent fell 5.09% to U.S. $63.39 as of 6:16 p.m., Moscow time.

Aeroflot rose 3.53% following weak oil and company statements about the launch of digital technologies to forecast flight loading and ticket prices in regions, Kochetkov said.

According to Kochetkov, Yandex stocks lost 1.17% on the back of a general pessimism on the high-tech sector. Marchena said that the U.S. high-tech sector saw sell-offs with Apple losing most.

Safmar shares grew 1.53% after the company announced a 6 billion ruble buyback program, Kochetkov said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-1.91	194.21	12.940
Rosneft	-2.49	413.55	3.296
Lukoil	-0.74	4809.5	2.966
Gazprom	-1.68	151.51	2.615
MTS	-4.99	253	1.706

(66.0081 rubles – U.S. $1)

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