Russian stocks fall on EU sanctions preparations

MOSCOW, Sep 19 (PRIME) -- The Russian stock market decreased on Tuesday, as the E.U. continued to ready a 12th package of sanctions against the country, analysts said.

The MOEX Russia Index fell 1.64% to 3,083.85, and the RTS index slid 2.07% to 1,003.35.

"The Russian stock market accelerated the fall in the middle of the session continuing a downward correction in conditions of a lack of positive drivers," Yelena Kozhukhova from Veles Capital said. She added that the short-term trend on the market was negative amid sanctions preparations by the E.U. and high interest rates in Russia.

Polymetal jumped to a peak since June, after the Moscow Exchange relaunched the trade in the shares upon redomiciliation of the company, the analyst said. At the session end, the shares decreased 2.1%.

Kozhukhova said that the shares of Mechel recovered 0.84% after falling during previous sessions.

Otkritie Research analyst Andrei Kochetkov said that high oil prices, with the Brent blend at U.S. $95 per barrel, did not help the Russian oil sector, as it was affected negatively by a key rate raise by the central bank, sanctions discussions and a possible confiscation of Russian assets.

The foreign markets tried to recover cautiously during the session ahead of a report after a meeting of the U.S. Federal Reserve System (Fed), according to Kozhukhova.  

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-2.11	253.6	20.805
Lukoil	-1.62	6420.5	8.635
Transneft pref	-2.44	146200	7.346
Gazprom	-1.34	170.48	6.658
VTB	-2.51	0.026195	4.494

(96.6472 rubles – U.S. $1)

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