Russian stocks fall on oil price slump, unfavorable environment
MOSCOW, Feb 28 (PRIME) -- Russian stocks contracted on Wednesday as local traders were pricing in a Tuesday slump of oil prices against a downward correction of the worldТs indices, analysts said.
The MOEX Russia Index fell 1.93% to 2,296.80 and the RTS decreased 1.94% to 1,285.47.
УIn the first half of the day, the MOEX Russia Index priced in the previous dayТs slump of oil prices and sales at the global stock floors triggered by higher tensions around the possibility of a U.S. rates growth,Ф Yevgeniya Abramovich, head of the currency risks analysis department as Swiss brokerage house Dukascopy Bank SA, said.
Sofya Kirsanova, an analyst at managing company Raiffeisen Capital, said that the sales may have also been caused by a fresh outflow of money from Russia-dedicated funds, pushing the Russian blue chips to a position among the loss leaders.
Metals giant Norilsk Nickel lost XX% to XX rubles, while gas giant Gazprom fell by XX% to XX rubles, oil company Lukoil by XX% to XX rubles, retailer Magnit by XX% to XX rubles, and common shares of top bank Sberbank by XX% to XX rubles.
УThe outflow of funds may have happened due to a general decrease in risk appetite among the global investors after China posted weaker February PMIs (Purchasing ManagersТ Index) than analysts expected. The countryТs Manufacturing PMI amounted to 50.3 compared to 51.1 the market expected, while Non-Manufacturing PMI stood at 54.4 instead of 55,Ф Kirsanova said.
Andrei Kochetkov, an analyst at Otkritie Broker, said that Gazprom Neft outperformed the market and lost only 1.05% to 283.90 rubles on strong financial results for 2017.
National air carrier Aeroflot raised its passenger traffic by 7.7% on the year in January, and the companyТs shares rose 1.69% to 141.45 rubles, Kochetkov said.
Below are the MOEX Russia IndexТ five most active stocks on Wednesday:
|Company||Change, %||Last price, rbl||Trading volume, bln rbl|
(55.6717 rubles Ц U.S. $1)