Russian stocks fall on lower foreign floors, decreasing oil price

MOSCOW, Aug 26 (PRIME) – The Russian stock market closed lower on Thursday on a negative external background, growing tension about the Jackson Hole symposium, and falling crude prices, analysts said.

The MOEX Russia Index fell by 0.90% to 3,851.57 and the RTS decreased by 1.14% to 1,634.79.

“The mood on the international trading venues are moderately negative mainly on the wariness ahead of signals from Jackson Hole. This, combined with the stalling of the rise in oil prices, led to more tangible losses on the Russian market in the second half of the day,” Nikolai Pereslavsky of CMS Institute said.

Alexandra Ovchinnikova, analyst of Sber Asset Management, said that the external background was moderately negative. The Chinese trading floors closed lower due to the tightening of legal norms against private companies. The central bank of South Korea was the first in the region to raise the interest rate due to rising household debt and overheated housing markets. The European indices headed down in the first half of the trading session due to weak macro statistics in Germany.

Alexander Osin, analyst of Freedom Finance, said that TCS Group outperformed market expectations with the second quarter report. The management of TCS Group raised its estimate of net profit in 2021 to at least 60 billion rubles.

PJSC RusHydro’s revenue, EBITDA and net profit in Q2 2021 were 106 billion, 32 billion and 20 billion rubles respectively, as expected by Freedom Finance.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0,56	322,74	8.241
Gazprom	-0,61	294,9	6.636
Tatneft	-3,74	494,3	3.888
Lukoil	-1,27	6 349,5	3.655
NLMK	-1,05	242,14	3.471

(74.2200 rubles – U.S. $1)

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