Russian stocks fall on oil price drop, negative foreign sentiment

MOSCOW, Sep 8 (PRIME) -- Russian stocks decreased on Tuesday dragged by a drop in oil prices and negative moods on foreign floors, analysts said.

The MOEX Russia Index fell 1.48% to 2,888.79 and the RTS dropped 2.38% to 1,189.47.

“The MOEX Russia Index and the RTS remained in minus by the end of trading due to the persisting negative foreign background,” Veles Capital analyst Yelena Kozhukhova said.

Trading in the U.S. started with a decline of three main indices, which were losing 1.5–2.5% by the end of the Russian session. Moderately negative moods were seen on European floors.

The nearest futures for Brent and WTI oil accelerated their decline by the evening and dropped 6–8.5%.

Diamond giant ALROSA was among growth leaders, adding 1.33% on no fundamental reasons. Global depositary receipts of X5 Retail Group rose 1.59%.

Internet giant Yandex was among outsiders, losing 4.72%. Metals and mining company Mechel decreased 3.56% and gold producer Seligdar edged down 3.75%.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-1.84	217.25	14.771
Yandex	-4.72	4740.00	13.905
Gazprom	-2.52	172.57	10.775
Lukoil	-1.77	4710.00	6.005
Norilsk Nickel	-0.72	19862.00	5.466

(75.5910 rubles – U.S. $1)

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