Russian stocks fall in line with global floors on coronavirus fears

MOSCOW, Jan 30 (PRIME) -- Russian stocks decreased on Thursday in line with global floors and oil prices amid fears of the coronavirus outbreak, analysts said.

The MOEX Russia Index fell 0.65% to 3,108.58 and the RTS decreased 1.66% to 1,544.55.

“The MOEX Russia Index and the RTS remained in minus by the end of trading due to the maintenance of the unfavorable foreign background,” Veles Capital analyst Yelena Kozhukhova said.

Otkritie Broker analyst Andrei Kochetkov said, “The domestic market is again in minus on fears of an increase in the incidence of new coronavirus in China and beyond.”

Trading on the U.S. floors started with a decline of three main indices, which were losing around 0.3–0.5% by the end of trading in Russia. Negative moods were seen on European floors.

Brent and WTI oil quotations accelerated decline by the evening and were losing around 2%. Investors are selling futures on concerns that demand for oil will decrease due to the coronavirus, Kozhukhova said.

Oil major Lukoil’s shares fell 2.86% after MSCI’s decision to keep the foreign inclusion factor (FIF) for the company’s shares at 0.55.

Precious metals producer Polymetal and metals and mining company Mechel were among growth leaders, adding 3.22% and 0.33%, respectively.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Lukoil	-2.86	6443.50	10.385
Gazprom	-0.2	231.53	9.594
Sberbank	-1.01	257.31	8.167
Rosneft	-0.1	481.20	7.026
Norilsk Nickel	-1.65	20880.00	3.492

(62.3924 rubles – U.S. $1)

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