Russian stocks fall on lack of drivers, key rate meeting

MOSCOW, Sep 13 (PRIME) -- The Russian stock decreased on Wednesday on lack of drivers and expectations of the central bank’s key rate decision, analysts said.

The MOEX Russia Index fell 0.56% to 3,148.32 and the RTS decreased 1.81% to 1,030.65.

“The Russian market started Wednesday's trading in the plus, but by the middle of the day fell into the minus. At the same time, the ruble dynamics pointed to purchases of exporters' shares. Nevertheless, the market is still not finding reasons for growth,” Otkritie Broker’s leading analyst for global Research Andrei Kochetkov said.

The focus in the market remains on the unpredictability of the ruble and the central bank's rate decision, he also said.

“After the statements of Russia's main bankers that the central bank has no reason to raise the rate, the market's anxious expectations have decreased. However, they have not completely disappeared. Therefore, there is an increased volatility of the national currency rate and uncertainty in the direction of stock movements,” the analyst added.

According to Director of the stock market department at managing company Pervaya Anton Kravchenko, the market is expecting the key rate hike, while not ruling out a significant increase, which could affect the strengthening of the ruble and, as a result, a decline in revenues from exporters.

Shares of oil and gas sector companies looked more stable than the market, while the financial segment fell, Senior Trader at managing company Alfa-Capital Vladislav Silayev said.

Among corporate news, attention was drawn to United Wagon Company (UWC), which shares fell 31.31%, as the shareholders decided to increase the authorized capital by placing additional shares, the analyst also said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
UWC	-31.31	125.7	9.886
Transneft	-0.6	148,750	6.696
Lukoil	-1.46	6,603.5	6.654
Sberbank	-1.12	259.47	6.395
Gazprom	-1.72	174.57	3.702

(94.7035 rubles – U.S. $1)

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