Russian stocks fall following foreign bourses, crude prices

MOSCOW, Nov 3 (PRIME) -- The Russian stock market traded in the negative territory during the day on Thursday in light of a pessimistic global environment, but managed to rebound from the day’s lows by the end of the trading session, when the sentiments started to improve, analysts said.

The MOEX Russia Index fell 0.82% to 2,155.92 and the RTS decreased 1.30% to 1,094.3.

“The Russian stocks market finished the day in the negative territory, but managed to bounce back from the day’s lows thanks to an improving sentiment on foreign stock exchanges,” Veles Broker analyst Yelena Kozhukhova said.

Sales persisted globally after the Federal Reserve’s frightening statements that a long period of strict monetary policy is to come, she added.

Steel producers Novolipetsk Steel (NLMK), Magnitogorsk Iron and Steel Works (MMK) and Severstal were among the top gainers rising 3.5%, 2.4% and 2%, respectively, following previous downward correction, Kozhukhova also said.

Freedom Finance Global’s Senior Analyst Natalya Milchakova said that the Russian stock market was additionally hurt by a 1.05% fall of the Brent crude price to U.S. $95.17 per barrel.

Senior Trader at managing company Alfa-Capital Vladislav Silayev said that investors preferred to take profit ahead of a lengthy weekend that will start with Unity Day, celebrated in Russia on Friday.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.03	125.45	5.481
Gazprom	+1.04	169.47	2.730
Lukoil	+0.11	4675	2.334
Yandex	+0.72	2125.2	1.542
Rosneft	+0.25	334.55	1.223

(61.6175 rubles – U.S. $1)

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