Russian stocks fall on oil price, foreign markets decrease
MOSCOW, Feb 9 (PRIME) -- The Russian stock market eased on Tuesday, following the oil prices and foreign markets, analysts said.
The MOEX Russia Index fell 0.55% to 3,426.86, and the RTS index decreased 0.30% to 1,457.87.
"The market attempted to rise following oil and the Asian indices at the start of the day but later oil returned to the level below U.S. $61 per barrel of Brent, and the European indices sunk to the negative zone," Andrei Kochetkov, lead analyst for global research at Otkritie Broker, said.
According to Kochetkov, the European market mood was negative as a vaccine produced by AstraZeneca showed low efficiency against several strains of the coronavirus. As for the Russian market, presidential spokesman Dmitry Peskov denied plans reported by Reuters to spend additional 500 billion rubles on social issues.
The Russian market was somewhat disappointed by the news, and only the financial and consumer sectors firmed, Kochetkov said.
Veles Broker analyst Yelena Kozhukhova said that the European markets demonstrated a moderately negative trend with the Euro Stoxx falling 0.2%. The U.S. stock market futures were also in the red zone, the S&P 500 futures fell 0.1%.
Kochetkov said that TCS Group rose 1.91% on expectations of inclusion in the MSCI Russia index, while Sberbank fell as investors took profit on the overheated market and on the news that the government will not raise social spending.
Below are the MOEX Russia Index’ five most active stocks on Tuesday:
| Company | Change, % | Last price, rbl | Trading volume, bln rbl |
|---|---|---|---|
| Sberbank | -2.65 | 267.91 | 23.439 |
| Gazprom | -0.39 | 227.1 | 12.901 |
| Norilsk Nickel | -1.58 | 25396 | 6.941 |
| Lukoil | -1.21 | 5,688.5 | 5.494 |
| Magnit | +2.57 | 5,239 | 4.330 |
(74.2602 rubles – U.S. $1)
End
Add to favorites
Print version
