Russian stocks fall depressed by Rosneft-Sistema conflict

MOSCOW, Dec 19 (PRIME) -- Russian stocks decreased on Tuesday depressed mainly by confrontation between oil major Rosneft and multi-industry holding Sistema, analysts said.

The MOEX Russia Index fell 0.77% to 2,118.16 and the RTS dropped 1.16% to 1,134.58.

“On Tuesday, the foreign background looks on the whole favorable… Meanwhile, the Russian market is dominated by sellers, and lingering confrontation between Rosneft and Sistema, which got stuck in litigation, does not play the last role here,” InstaForex analyst Igor Kovalyov said.

Sistema’s shares are restoring and grew 2.5% after Monday’s contraction caused by an appeals court decision to retain a 136.3 billion ruble fine on the company.

Hydropower giant RusHydro lost 5.62% after reporting on Monday that its net profit fell 17.6% on the year to 30.8 billion rubles in January–September, as calculated under International Financial Reporting Standards (IFRS).

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-1.45	224.10	7.891
Gazprom	-0.22	133.96	2.208
Lukoil	+0.19	3402.00	1.442
RusHydro	-5.62	0.7518	1.320
Moscow Exchange	-2.78	114.72	1.316

(58.6940 rubles – U.S. $1)

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