Russian stocks fall on oil price decline, weak global background

MOSCOW, Nov 18 (PRIME) -- The Russian stock market closed the trading session with a decline on Friday on Brent oil price decrease and negative global environment, analysts said.

The MOEX Russia Index fell 0.30% to 2,206.32 and the RTS decreased 0.39% to 1,147.03.

“The Russian stock market declined today following the oil prices. Brent crude fell below U.S. $87 per barrel on fears of deterioration in the Chinese economy due to an increase in the number of detected COVID-19 cases,” senior analyst at Promsvyazbank Vladimir Lyashchuk said.

The worsening situation on the global commodity markets has a negative impact on the Russian stock market, he added.

Yevgeny Linchik, head of the stock managing department at managing company Pervaya, said that the determining factors were a drop in oil quotations and negative external conditions.

Statistics on Russia’s gross domestic product (GDP) for July–September, as well as weekly inflation data had no significant effect on the market as they “met the expectations,” he also said.

The leaders of growth were shares of Qiwi increasing 2.91%, Sovcomflot rising 2.19%, and TCS Group increasing 1.11%.

Qiwi shares by the evening were still waiting for the release of the financial results for July–September, while the securities retreated from the intraday high of 454.5 rubles, the highest since May 2022, Veles Capital analyst Yelena Kozhukhova said.

The very disclosure of TCS Group's financial results, which will be published on November 23, in case of optimistic results could make TCS Group one of the promising company in the banking sector along with Sberbank, she added.

The leaders of fall were TMK shares, Magnit and Bank Saint Petersburg.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-1.13	137.1	5.303
Gazprom	-0.18	169.2	1.569
Magnit	-1.86	5027	1.23
Norilsk Nickel	+0.2	14938	1.217
TCS Group	+1.11	2829.5	1.023

(60.3894 rubles – U.S. $1)

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