Russian stocks fall on unfavorable background, lack of drivers

MOSCOW, Nov 30 (PRIME) -- The Russian stock market closed with a slight decrease on Wednesday over the market’s expectations of worsening economic situations in many countries due to China's tough anti-COVID measures and the lack of drivers, analysts said.

The MOEX Russia Index fell 0.49% to 2,174.53 and the RTS decreased 0.32% to 1,125.14.

“U.S. Treasury Secretary Janet Yellen warned that China's tough anti-COVID measures could again cause disruptions in global supply chains, exacerbating the emerging crisis in many countries and slowing down the decline in inflation,” Freedom Finance Global’s Senior Analyst Natalya Milchakova said.

Veles Broker analyst Yelena Kozhukhova said that the Russian stock market was in a subdued decline finding no internal or external drivers for growth.

According to Milchakova, the leaders of growth were the depositary receipts of HeadHunter probably on the back of today's statements by Russian President Vladimir Putin about the indexation of wages in the state sector and Mechel's common shares, which rose possibly due to a rise in global coal prices.

The biggest declines were seen in Raspadskaya, Norilsk Nickel, Surgutneftegas, Rosseti and M. Video.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.63	135.51	2.698
Gazprom	-0.24	167.7	1.731
Polyus	-0.51	7200	1.708
Yandex	-0.23	1981.6	1.386
Lukoil	-0.09	4598	1.321

(61.0742 rubles – U.S. $1)

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