Russian stocks fall on lower oil, expectation of new sanctions

MOSCOW, Dec 12 (PRIME) -- The Russian stock market decreased Monday following oil prices amid the expectation of more sanctions and negative global sentiments, analysts said.

The MOEX Russia Index edged down 0.22% to 2,173.16 and the RTS decreased 0.93% to 1,088.86.

“The local decline of the Russian stock market was linked to a drop in oil prices, as well as the general negative sentiment on global markets,” Yevgeny Linchik, head of the stock managing department at managing company Pervaya, said.

The oil market remained under pressure as investors fear the U.S. Federal Reserve (Fed) will maintain its tough measures after the publication of inflation data, which could lead to a slowdown in the U.S. and global economies, and subsequently to a reduction in demand for energy, he said.

Management company Alfa-Capital’s analysts Denis Babyanov said that the Russian stock market was under some pressure from the expectation of another package of anti-Russian sanctions.

According to Freedom Finance Global leading analyst Natalya Milchakova, Tinkoff Bank depository receipts were among the growth leaders increasing 4.63% on the expectations of the central bank’s key rate decision, as well as Bank Saint Petersburg shares, which grew by 2.48%. Magnit shares rebounded by 1.9% after a deep decline last week.

Segezha Group, with a 3.69% fall, headed the list of outsiders after the publication of mixed financial results for July–August, she also said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.51	139.32	4.394
Gazprom	+0.14	162.98	2.013
Magnit	+1.9	4530.5	1.698
Lukoil	+0.11	4588	1.335
Norilsk Nickel	-1.07	14780	1.052

(62.3813 rubles – U.S. $1)

End