Russian stocks fall on corporate news, unfavorable backdrop

MOSCOW, May 12 (PRIME) -- The Russian stock market decreased on Friday over some corporate news and unfavorable global background, analysts said.

The MOEX Russia Index fell 1.15% to 2,565.17 and the RTS decreased 2.46% to 1,038.32.

“The market is correcting on ambiguous corporate news. The external background remains unfavorable as well,” senior analyst at Freedom Finance Global Natalya Milchakova said.

The uncertain environment with prices on the energy market put additional pressure, the analyst added.

The Russian stock market corrected amid falling U.S. stock indices and oil prices, Vladimir Lyashchuk, senior analyst at Promsvyazbank said.

Financial, telecom, power and construction sectors looked worse than the market amid the weakening ruble, while the oil and gas sector looked better than the market, he also said.

According to Veles Broker analyst Yelena Kozhukhova, the market was down by the end of Friday's main trading amid a lack of new significant drivers for growth, but nevertheless retreated from the day's lows.

The leaders of the growth were shares of carmaker Sollers, which continue to win back the news 2022 dividends, Milchakova said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.2	228.86	13.635
Lukoil	+0.29	4802.5	4.153
Gazprom	-0.48	173.3	3.443
VTB Bank	+0.21	0.02171	2.365
Sollers	+23.18	619	1.61

(75.8846 rubles – U.S. $1)

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