Russian stocks fall on oil price, European markets' decrease

MOSCOW, Sep 7 (PRIME) -- The Russian stock market declined on Tuesday, as the oil prices and the European markets fell, analysts said.

The MOEX Russia Index fell by 0.45% to 4,010.16, and the RTS Index decreased by 0.75% to 1,723.91.

"The MOEX Russia Index hit 4,043.51 at some point in the first half of the day. But overheating did not allow the market to grow headstrong,” Andrei Kochetkov, leading analyst for global research at Otkritie Broker, said.

“Oil has started to decrease, the European indices sank. There are growing concerns that the European Central Bank will become the first among the leading central banks to start cutting the stimuli."

Dmitry Bedenkov, head of the research department of RUSS-INVEST, said that the market was disappointed by the German and euro zone statistics published by the ZEW Institute. The economic expectations slid to the lowest level since April 2020 in August.

The Brent price fell by 0.28% to $72.02, and the WTI one decreased by 1.05% to $68.56 as of 5:26 p.m., Moscow time.

According to Kochetkov, the retail sector and the construction materials makers were the outsiders of the session. Magnit lost most (-2.05%) due to the claims about possible price collusion of the antitrust.

Developer Samolet Group dove 6.67% after CEO Anton Yelistratov said the company could hold a secondary public offering already in September–October, Kochetkov said.

Acron shares were pressured and decreased 6.94% after the board of directors suggested paying 30 rubles per share from undistributed net profit of the previous years, the analyst said.

Overbought Sberbank eased, he said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	-0.42	327.55	22.483
Mechel	+3.16	150.1	11.413
Sberbank	-1.16	325.55	7.536
Lukoil	-0.7	6281	4.808
Novatek	+4.48	1936.8	4.617

(72.9538 – U.S. $1)

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