Russian stocks fall on negative oil, foreign market trend

MOSCOW, Jun 3 (PRIME) -- The Russian stock market retrenched on Thursday as oil prices and foreign markets decreased, analysts said. 

The MOEX Russia Index fell 0.32% to 3,805.45, and the RTS index decreased 0.44% to 1,636.51.

"The MOEX Russia Index managed to reset the historical record in the first half of the day of 3,837.73. But local overheat has started to take its toll on the market, and a nice growth at the start of June made some investors consider taking profit. The external background was not positive as well," Andrei Kochetkov, lead analyst for global research at Otkritie Broker, said.

Veles Capital’s analyst Yelena Kozhukhova said that the oil market trend was negative as the Brent and WTI blends receded about 0.5% after many-year highs of U.S. $71.96 and $69.40 espectively. The change of trend was in line with other risky assets' ones and was reinforced by strengthening U.S. dollar.

The European and U.S. markets were moderately negative with the Euro Stoxx 50 losing 0.8% and the S&P 500 futures also falling 0.8%.

Kozhukhova said that Sistema's shares grew 1.34% supported by news about plans to upgrade the equipment with State Transport Leasing Company (STLC).

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	+0.17	271.6	13.504
Lukoil	+0.92	6487	11.865
Sberbank	-0.47	312.5	10.214
Rosneft	+1.51	560.35	8.027
Norilsk Nickel	-1.2	26622	6.278

(73.4979 – U.S. $1)

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