Russian stocks fall on worsened moods on oil market

MOSCOW, Dec 14 (PRIME) -- Russian stocks were showing upward dynamics on Monday amid optimistic moods on global floors, but decreased by the end of trading following the deterioration of sentiment on the oil market, analysts said.

The MOEX Russia Index fell 0.66% to 3,254.83 and the RTS decreased 1.04% to 1,398.12.

“After reaching new highs, the MOEX Russia Index and RTS went into a correctional minus by the end of the trading session following the deteriorating sentiment on the oil market,” Veles Capital analyst Yelena Kozhukhova said.

The foreign background was moderately positive. Trading in the U.S. started with growth of three main indices, which were adding around 0.8–1.3% by the end of the Russian session. Positive moods were seen on European floors as well.

The nearest futures for Brent and WTI oil retreated from their highs by the evening and were adding only less than 0.5% after OPEC lowered its forecast for global oil demand growth in 2020 and 2021.

Steel producer Severstal rose 3.63%, Magnitogorsk Iron and Steel Works (MMK) gained 3.77%, and Novolipetsk Steel (NLMK) closed 2.79% higher on no fundamental reasons.

Metals and mining company Mechel was among outsiders, losing 2.36%.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-1.65	279.04	23.423
Gazprom	-0.94	199.60	23.322
Lukoil	-1.51	5299.00	10.696
Norilsk Nickel	-0.46	23946.00	6.314
Severstal	+3.63	1269.00	4.956

(73.1195 rubles – U.S. $1)

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