Russian stocks fall on expectations of new sanctions, Fed decision

MOSCOW, Dec 14 (PRIME) -- The Russian stock market decreased on Wednesday as investors were expecting the new E.U. package of sanctions and the U.S. Federal Reserve’s (Fed) decision on the key rate, analysts said.

The MOEX Russia Index fell 0.67% to 2,159.81 and the RTS decreased 2.59% to 1,060.74.

“The Russian market ended the day in the red, helped by the news background. Negative sentiment prevailed in the global markets, and the market growth was also limited by expectations of the E.U. ninth package of sanctions,” Senior Portfolio Manager of managing company Pervaya Anton Kravchenko said.

Freedom Finance Global’s Senior Analyst Natalya Milchakova said that the markets were tensely awaiting the Fed’s key rate decision.

Investors are more concerned about the rhetoric of Fed Chair Jerome Powell, as if it turns out to be less “hawkish” than before, it will be a positive signal for stock exchanges, she said.

According to Milchakova, TMK shares were the growth leader on the market on Wednesday over increased demand for large-diameter pipes in connection with construction of a new gas pipeline to China.

Renaissance Insurance shares were the fall leader without any news, while depositary receipts of VK holding continued to correct, she also said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.38	137.6	4.026
Polyus	+1.47	7751	2.383
Lukoil	+0.25	4589	2.297
Gazprom	-0.88	160.97	2.017
Yandex	-2.29	1855.8	1.283

(63.2120 rubles – U.S. $1)

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