Russian stocks fall on negative global, local environment

MOSCOW, Oct 17 (PRIME) -- The Russian stock market edged down on Tuesday due to a pessimistic foreign environment and negative domestic events, analysts said.

The MICEX fell 0.66% to 2,092.57 and the RTS decreased 1.00% to 1,146.62.

“Sentiment on the Russian stock market looks negative… The external background is mixed… The Spanish government continues to pressure Catalonia’s authorities expecting the regional leader to drop the idea to announce independence,” Otkritie Broker analyst Timur Nigmatullin said.

Anastasia Sosnova, senior analyst at Bank Rossiysky Capital, said that the global environment was generally pessimistic including commodities and emerging markets.

Power grid operator Rosseti was among market outsiders sliding 4.65% to 1.024 rubles after its new CEO Pavel Livinsky said the company sees its net profit and EBITDA flat on the year in 2017 and that it intends to ask the government to exempt it from paying dividends.

Power generating company RusHydro dropped 1.29% to 0.875 rubles on the news that its board of directors approved a 2.7% reduction of an investment program for 2017.

Multi-industry holding Sistema was another big loser falling 0.89% to 13.4 rubles on the back of a court’s decision to keep arrest on its assets under a 170.6 billion ruble case with oil major Rosneft.

Below are the MICEX’ five most active stocks on Tuesday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.25%	197.2	5.171
Gazprom	-1,59%	125.15	3.567
Norilsk Nickel	-0.46%	10730	2.890
Rosneft	+0,97%	328	2.709
Lukoil	-0.56%	3003	1.645

(57.0861 rubles – U.S. $1)

End