Russian stocks fall on sanctions rhetoric despite outer positivity

MOSCOW, Dec 12 (PRIME) -- The Russian stock market fell on Wednesday in light of the U.S.’ anti-Russian sanctions rhetoric despite rising crude prices and Western stock exchanges, analysts said.

The MOEX Russia Index dropped 1.00% to 2,370.35 and the RTS slid 0.79% to 1,125.78.

“The Russian stock market continued the negative trend on Wednesday. It was the second consecutive session that the market ignored external positivity. The Brent oil price again reached U.S. $61 per barrel which might have supported our stocks. Positive dynamics of Western floors could also have been positive for the local market,” senior analyst at Promsvyazbank Bogdan Zvarich said.

The market was again pulled down by gas giant Gazprom which lost 1.77% to 155.79 rubles and oil companies Lukoil and Tatneft which slid 3.13% to 5,102 rubles and 2.8% to 738.7 rubles, respectively, he added.

The U.S. House of Representatives approved a symbolic resolution opposing Gazprom’s $11 billion Nord Stream 2 natural gas pipeline, on concerns that the project would boost the Kremlin’s control over Europe’s energy supplies.

Zvarich, however, said that the negative trend of Russian energy majors’ stocks looks temporary as sanctions against the Nord Stream-2 are unlikely.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-1.1	190.45	9.785
Gazprom	-1.77	155.79	5.091
Lukoil	-3.13	5102	4.312
Rosneft	-0.83	422	1.921
Norilsk Nickel	+1.19	12890	1.672

(66.5022 rubles – U.S. $1)

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