Russian stocks fall on corporate news, unfavorable background

MOSCOW, Mar 16 (PRIME) -- The Russian stock market decreased on Thursday amid some corporate news on dividends and global risks, analysts said.

The MOEX Russia Index fell 0.17% to 2,258.22 and the RTS decreased 1.03% to 927.30.

“Investors on the Russian stock market continued to sell securities because of concerns about deterioration of the situation on the global financial markets,” PSB Bank senior analyst Yegor Zhilnikov said.

Some reports and statements of companies about non-payment of dividends for 2022 “added pessimism to the market,” the analyst also said.

According to Veles Capital’s analyst Yelena Kozhukhova, the Russian stock market remained under downward pressure by the end of main trading mainly because of corporate factors.

The biggest gains by the end of the session were seen in common and preferred shares of Mechel, which grew after several days of downward correction, the analyst said.

The biggest declines were seen in Detsky Mir shares, which corrected after a strong growth the day before, she also said.

Polymetal fell 3.22% on expectedly weak financial results for the second half of 2022.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.01	175.29	8.069
Gazprom	-0.25	159.28	3.164
Yandex	+1.04	4064	2.227
Lukoil	-1.3	1840	2.213
Polymetal	-3.22	531.7	2.044

(75.7457 rubles – U.S. $1)

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