Russian stocks fall dragged by negative dynamics of global floors

MOSCOW, May 21 (PRIME) -- Russian stocks decreased on Thursday after several days of rapid growth dragged by negative dynamics of Western floors, analysts said.

The MOEX Russia Index fell 1.88% to 2,718.67 and the RTS decreased 1.57% to 1,206.28.

“The MOEX Russia Index and the RTS Index accelerated the decline by the end of trading, feeling the pressure from correction sentiment abroad,” Veles Capital analyst Yelena Kozhukhova said.

The foreign background was moderately negative. Trading in the U.S. started with a decline of three main indices, which were losing 0.7–1.2% by the end of the Russian session. Moderately negative moods prevailed on European floors as well.

The July futures for Brent and WTI oil were trading mixed within 0.5% by the end of the Russian session.

Otkritie Broker analyst Andrei Kochetkov said, “A wave of profit taking came to the Russian market after two days of rapid growth. The external background also does not contribute to further growth. Statistics on Europe remains weak, and the U.S. is ready to arrange another confrontation with China over the availability of the U.S. financial market for Chinese companies.”

Electronic goods and household appliances retailer M.Video and metals and mining company Mechel’s preferred shares were among growth leaders, adding 3.41% and 1.92%, respectively.

Oil and gas company Surgutneftegas, oil company Tatneft, and precious metals producer Polymetal were among outsiders, losing 4.4%, 4.68%, and 3.14%, respectively.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	-1.02	194.74	17.572
Sberbank	-0.81	192.40	15.420
Lukoil	-3.01	5286.00	14.369
Norilsk Nickel	-1.81	22536.00	8.487
Rosneft	-3.48	367.00	7.773

(72.3381 rubles – U.S. $1)

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