Russian stocks fall following global floors on rising concerns

MOSCOW, Sep 4 (PRIME) -- The Russian stock market edged down on Tuesday in line with a global trend due to rising investor concerns over global trade wars, analysts said.

The MOEX Russia Index fell 0.41% to 2,336.38 and the RTS dropped 0.27% to 1,082.21.

“Russian stock indices declined moderately amid a negative external environment. Central Bank Chairwoman Elvira Nabiullina’s verbal interventions on the regulator’s inclination to stabilize or even raise the key interest rate to offset volatility on the currency market pressured the domestic stock market,” Forex Club analyst Ivan Marchena said.

Veles Capital said that the MOEX Russia index rested in the red territory during most of the day in line with a negative global trend, but Russian oil and gas companies outperformed the market thanks to the Brent oil futures consolidating above U.S. $78 per barrel.

Veles Broker analyst Yelena Kozhukhova said that the U.S. and European markets were seen lower amid emerging concerns over deepening global trade tensions including possibilities of revision of the NAFTA agreement and fresh U.S. duties on imports from China.

Independent gas producer Novatek added 1.94% to 1,100.9 rubles on the news it may sell up to 49.9% in affiliate Arctic Sea Transport to China’s COSCO and the Silk Road Fund.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.94	179.5	10.221
Gazprom	-0.89	147.4	2.524
Lukoil	-0.23	4717	1.666
Magnit	+0.2	4045	1.664
Novatek	+1.94	1100.9	1.191

(67.7443 rubles – U.S. $1)

End