Russian stocks fall on key rate raise expectations, no drivers

MOSCOW, Dec 10 (PRIME) -- The Russian stock market closed with a decrease on Friday, having succumbed to profit taking with no strong drivers present before the weekend, as well as expectations of the next week’s central bank’s key rate raise, analysts said.

The MOEX Russia Index fell 1.39% to 3,760.23 and the RTS decreased 1.24% to 1,612.25.

According to Alexei Golovinov of PSB Bank, Russian investors were selling off their assets because of the ‘Friday factor,’ and the approaching meetings of the U.S. Federal Reserve and Russia’s central bank were an additional incentive to sell.

As Vladislav Silayev of Alfa Capital said, “Exchange sentiment was far from optimistic, as geopolitical stress has receded into the background, but no new positive catalysts have emerged.”

The Russian stock indices remained in the red, seemingly subject to profit taking before the weekend amid geopolitical uncertainty, despite an overwhelmingly positive external background, including rising crude oil prices, Yelena Kozhukhova of Veles Capital said.

Transneft’s preferred shares performed outstandingly well, rising to the highest since November 9, against the background of the company’s plans to split its shares, which may attract additional interest from private investors, Mikhail Shulgin of Otkritie Capital said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-1.8	295	22.657
Gazprom	-1.72	330.8	13.590
Lukoil	-0.33	6597	4.113
Yandex	-2.42	4736	3.628
VTB Bank	-1.87	0.04604	3.157

(73.5998 rubles – U.S. $1)

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