Russian stocks fall on lower oil price, no support from abroad

MOSCOW, Nov 27 (PRIME) -- The Russian stock market fell on Monday following an oil price decrease and on the lack of support from the foreign trading floors, analysts said.

The MOEX Russia Index fell 0.83% to 3,191.05 and the RTS decreased 0.97% to 1,132.05.

“The fall of oil prices and mixed dynamics of the foreign stock floors still act as the restraining factor for the national shares,” Polina Shchukina, analyst at investment company Finam, said.

Otkritie Broker’s expert Andrei Kochetkov said that the Brent oil price fell below U.S. $80 per barrel. The oil price fall triggered contraction in the European stock indices following the energy shares, while futures for the main U.S. indices forecasted a possibility of the U.S. stock market falling by up to 0.15% at the beginning of the trade, he said.

He also said that the shares of SPB Exchange were highly volatile because of a false filing for bankruptcy. The exchange lost 9.49% to 88.7 rubles, he said.

“The Russian stock market remained in the red zone without any significant external or internal positive drivers … The foreign stock floors showed consolidation given the lack of external economic signals, but the macroeconomic calendar should become more interesting on Tuesday,” Veles Capital’s analyst Yelena Kozhukhova said.

The shares of precious metals producer Polymetal rose by 17.32% to 464 rubles after the sales of the previous week, which were caused by the news about an exchange of the shares that were blocked by sanctions against the National Settlement Depository and by rumors about a consequent delisting from the Moscow Exchange, she said.

Hydropower giant RusHydro gained 0.92% to 0.8009 rubles on expectations from the upcoming release of the financial report calculated under International Financial Reporting Standards on Tuesday, Kozhukhova said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-1.84	281.57	20.777
Mechel	-4.08	296.90	9.747
Polymetal	+17.32	464.00	8.296
Yandex	+0.95	2619.20	4.128
Lukoil	-0.82	7235.50	4.061

(88.8133 rubles – U.S. $1)

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