Russian stocks fall on correcting oil, discouraging global mood

MOSCOW, Oct 17 (PRIME) -- The Russian stock market edged down on Wednesday following sliding crude and pressured by a negative global environment, analysts said.

The MOEX Russia Index fell 0.24% to 2,411.42 and the RTS decreased 0.26% to 1,162.79.

“The MOEX Russia Index declined during the entire trade session on Wednesday. A fall in crude prices partially due to a statistics release by the U.S. Department of Energy was among the negative factors, as well as the discouraging sentiment of the global stock exchanges,” Veles Capital said.

The Brent oil price broke through a psychologically important support mark of U.S. $80 per barrel.

Veles Capital added that investors were taking profit ahead of the Federal Reserve’s minutes publication. European markets were additionally pressured by disputes over the Brexit parameters and the level of Italy’s budget deficit.

Metals producers were among the top gainers. Metallurgic giant Severstal rose 2.78% to 1,073 rubles, steelmaker Novolipetsk Steel (NLMK) added 2.05% to 171.3 rubles and mining company Norilsk Nickel rose 1.47% to 11,430 rubles.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-1.02	194.05	15.440
Gazprom	-0.86	164.56	3.208
Lukoil	-0.46	4773	1.888
Rosneft	-0.18	467.85	1.838
Magnit	+1.16	3581	1.680

(65.5305 rubles – U.S. $1)

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