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Russian stocks fall on negative global environ, new sanction risks

MOSCOW, Apr 25 (PRIME) -- The Russian stock market continued to correct down on Tuesday thanks to a pessimistic foreign environment and risks of further anti-Russian sanctions, analysts said.

The MOEX Russia Index fell 0.33% to 2,626.86 and the RTS decreased 0.69% to 1,013.87.

УThe Russian stock market demonstrated further downward correction on a lack of either internal or external encouraging driversЕ The MOEX Russia Index and the RTS tested the support lines of 2,625 and 1,010,Ф Veles Broker analyst Yelena Kozhukhova said.

Foreign stock exchanges continued to fall from recent highs following expected negative corporate signals, including signals from the banking sector, she also said.

Kozhukhova added that local investors were taking profit from some shares, but dividend expectations remain supportive for many issuers.

Otkritie Research analyst Andrei Kochetkov said that the Russian market was pressured by a discouraging external background and risks of new sanctions.

Kozhukhova said that the nearest Brent oil futures lost around 2% to the lowest level since the end of March of U.S. 79.9 per barrel.

Below are the MOEX Russia IndexТs five most active stocks on Tuesday:

Company Change, % Last price, rbl Trading volume, bln rbl
Sberbank +0.08 235.29 6.889
Gazprom -1 179.75 4.350
Bank St Petersburg +7.08 177.32 3.332
VTB Bank -0.7 0.01987 2.575
Beluga Group -5.92 4430 1.976

(81.2745 rubles Ц U.S. $1)

End

25.04.2023 19:22
 
 
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