Russian stocks fall on lack of drivers, possible new sanctions

MOSCOW, Sep 25 (PRIME) -- The Russian stock market decreased on Monday on lack of drivers, possible sanctions on diamonds by the E.U., unfavorable background and remaining effect from the key rate hike,  analysts said.

The MOEX Russia Index fell 0.12% to 3,045.39 and the RTS decreased 0.29% to 997.09.

“The Russian market remains under pressure from the key rate hike by the central bank, new possible sanctions, which, in particular, may affect the ban on the purchase of Russian diamonds by the E.U. In addition, the dynamics in the global market, where sell-offs continue, does not add optimism,” managing company Pervaya analyst Sofya Kirsanova said.

Demand for shares was falling in the absence of ideas in blue chips, but shares of some companies were growing on the market, Promsvyazbank senior analyst Vladimir Lyashchuk said.

According to Yelena Kozhukhova from Veles Capital, the Russian stock market on Monday remained in a restrained minus by the end of the main trades finding no significant drivers for growth.

Freedom Finance Analyst Natalya Milchakova said that the geopolitical situation in the CIS states space remains in tension, and this weakens investors' interest in buying Russian shares.

Global rating agencies are again forecasting a slowdown in China's economic growth this and next year, and this will intensify sales of risky assets around the world, the analyst added.

Sovcomflot shares were noticeably better than the market growing 6.27% on the back of the company's expectations of its net profit for July–December at the level of the net profit for January–June in ruble terms, Lyashchuk said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.4	253	7.207
Lukoil	-0.43	6467	4.101
Gazprom	+0.06	166.8	3.719
Sovcomflot	+6.27	113.53	3.709
Rosneft	+1.61	522.15	2.78

(96.0419 rubles – U.S. $1)

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