Russian stocks fall on sanctions, oil price decrease

MOSCOW, Jun 23 (PRIME) -- The Russian stock market decreased on Friday amid new E.U. sanctions, oil price decline and unfavorable global background, analysts said.

The MOEX Russia Index fell 0.74% to 2,795.06 and the RTS decreased 1.53% to 1,039.99.

“A drop in commodities markets, negative dynamics on U.S. exchanges, as well as news about the entry into force of the eleventh package of E.U. sanctions against the Russian economy provoked a Russian equities sell-off. At the same time, positive corporate news and dividend payments slightly restrained the fall,” Natalya Milchakova, leading analyst of Freedom Finance Global, said.

The price of the Brent oil fell 1.27% to U.S. $73.2 a barrel, reacting to the tightening of monetary conditions by a number of leading central banks and to the announced plans to further raise the U.S. Federal Reserve System’s rate, the analyst also said.

According to Sofya Kirsanova, portfolio manager at managing company Pervaya, the decline on the Russian stock market was due to sales in the oil sector, as well as pessimistic sentiment in global markets.

The pressure on global markets was given by the statement of the U.S. Federal Reserve System head Jerome Powell about the possible continuation of tightening of the monetary policy, she also said.

TMK shares were the leaders of the growth without any significant news, which probably continue to win back the expected increase in domestic demand for the company's products, Milchakova said.

HeadHunter depositary receipts fell the most on the market with no news, she also said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.15	240.29	6.55
Lukoil	-0.18	5127.5	3.054
Gazprom	-0.05	168.33	2.919
VTB Bank	-0.13	0.0223	2.879
Yandex	-1.92	2444.8	2.73

(83.6077 rubles – U.S. $1)

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