Russian stocks fall on oil price drop, ahead of sanctions, taxes

MOSCOW, Feb 14 (PRIME) -- The Russian stock market edged down on Tuesday thanks to falling crude prices and anticipation of another package of sanctions from the E.U. and a rise of taxes on the oil industry, analysts said.

The MOEX Russia Index fell 1.42% to 2,232.23 and the RTS decreased 1.35% to 952.85.

“The Russian stock market started the day lower and finished the session also in the red territory,” Freedom Finance Global’s Senior Analyst Natalya Milchakova said.

“Investors seem to be losing interest in the blue chips ahead of the State Duma’s (parliament’s lower house) hearing of a bill on increasing taxes on the oil industry amid falling crude prices and the weakening U.S. market after the release of the U.S. inflation data for January,” she added.

Milchakova said that only some shares of the second and even third tier outperformed the market.

Veles Broker analyst Yelena Kozhukhova said that Russian investors are waiting for the announcement of the 10th package of sanctions by the E.U. this week, which also pressures the market.

She also said that the Brent crude price has lost around 1.5% and fluctuated near the support line of U.S. $84.5 per barrel during the day.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-1.29	162.2	8.809
Niznekamskneftekhim	+11.9	139.2	2.797
Gazprom	-1.05	156.35	2.747
Polyus	-0.94	8995	2.350
Kaluga Power Sales Co	+40.26	17	2.251

(73.6307 rubles – U.S. $1)

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