Russian stocks fall on sanctions fears, oil price decrease

MOSCOW, Sep 29 (PRIME) -- The Russian stock market decreased on Thursday after the news that the ceremony of signing of accords on the accession of new territories was scheduled for Friday caused fears of new sanctions, and a decrease of the prices for oil added to the negative moods, analysts said.

The MOEX Russia Index decreased 0.51% to 1,953.77, and the RTS index fell 0.21% to 1,072.26.

"The MOEX Russia Index, that was demonstrating a moderately positive dynamics at the start of the trade, has started decreasing on the news that tomorrow, on September 30, at 3:00 p.m., Moscow time, the Kremlin will host a ceremony of signing of accords on the accession of new territories to Russia," Finam analyst Anna Builakova said.

The RTS index demonstrated a less significant decrease on the back of a strengthening of the ruble, Builakova said.

Freedom Finance Global analyst Vladimir Chernov said that the Brent prices decreased 0.22% to U.S. $87.86 per barrel, correcting after a Wednesday's growth.  

Norilsk Nickel and was a market outsider after reports that the London Metal Exchange was discussing a prohibition of new metal supplies from Russia, analysts said.

Chernov said that ALROSA decreased 1.8% on fears that the eight package of E.U. sanctions would include measures undermining the financial performance of the company. Novatek continued its decline for a second day, falling 1.32%, as the Finance Ministry offered to raise the profit tax on the companies producing and exporting liquefied natural gas (LNG) to 32% in 2023 from 20%.

SPB Exchange soared 34.13% after the central bank allowed non-accredited legal entities to buy securities of issuers from unfriendly states, analysts said. 

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Gazprom	-0.06	217.26	9.948
Sberbank	-1.74	119.13	6.351
Yandex	+3.82	1848	2.903
Lukoil	-0.19	3900	2.704
Norilsk Nickel	-5.46	12224	2.434

(58.4485 rubles – U.S. $1)

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