Russian stocks fall on lack of growth drivers, weaker ruble

MOSCOW, Jun 26 (PRIME) -- Russian stocks decreased on Tuesday amid a lack of growth drivers, a mixed foreign background, and a weaker ruble, analysts said.

The MOEX Russia Index fell 0.25% to 2,231.03 and the RTS decreased 0.59% to 1,113.60.  

“The Russian stock market is finishing trading with a decline amid a moderately negative foreign background. It is difficult for investors to find new growth drivers yet – trading passions are heating up and oil market participants remain in uncertainty after increased OPEC production,” Veles Broker analyst Yelena Kozhukhova said.  

Freedom Finance analyst Anastasia Sosnova said that “the general background has stabilized, but many market participants are waiting for new signals, probably, negative.”

The ruble weakened against the dollar and euro, and the foreign background is mixed.

Oil quotations switched to growth and are gaining 0.4–1% receiving support from disruptions in supplies in Canada and possible restrictions of exports from Libya, Kozhukhova said.

National top lender Sberbank’s shares continued to win back the dividend gap and closed with a 1.28% decrease, Otkritie Broker analyst Andrei Kochetkov said.

Shares of uncut diamond giant ALROSA dropped 1.37% after the company said it would switch to dividend payments based on its free cash flow starting from 2018, Forex Club analyst Ivan Marchena said.

Kuzbass Fuel Company added 1.11% after its shareholders approved paying 10 rubles per share, or a total of 992.584 million rubles, in dividends for 2017.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-1.28	199.91	11.020
ALROSA	-1.37	98.73	2.478
Gazprom	+0.71	138.07	1.895
Lukoil	+0.34	4154.00	1.746
Rosneft	-1.18	389.30	1.105

(62.9497 rubles – U.S. $1)

End