Russian stocks follow European, emerging markets decline

MOSCOW, Oct 2 (PRIME) -- Russian stocks declined on Tuesday following a decrease on the European and emerging markets, analytics said.

“The Russian market proceeded with correction on Tuesday after having set the news maximums overnight, when Moscow stock index reached 2,490 points. The negative impact was provided by the oil prices decline and western indices sip today,” investment company Veles Capital said.

The MOEX Russia Index fell 0.91% to 2,449.70 and the RTS fell 0.81% to 1,181.61.

“The European trade floors closed in the red zone on Tuesday amid budget issues in Italy,” Finam analyst Sergei Drozdov said.

“There were a lot of negative forecast on the market today,” Timur Nigmatullin, an analyst at Otkritie Broker, said referring to concerns over Italy’s structural reforms and its possible withdrawal from the eurozone and a IMF head’s statement on a possible slowdown of the global economy.

Stocks of emerging markets slid 1% and the U.S. stocks demonstrated a mixed opening, analyst at Freedom Finance Anastasia Sosnova said.

Brent oil prices consolidated around U.S. $85 in light of a report by oil and gas field service company Baker Hughes, which said that the number of oil derricks rose only by five units in July–September indicating quite a weak rise on the year, Drozdov said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-2.3	199.5	15.957
Lukoil	-2.34	4898.50	4.152
Gazprom	+0.43	162.59	3.710
Norilsk Nickel	-0.69	11229	1.404
Rosneft	-0.54	491.4	1.381

(65.5745 rubles – U.S. $1)

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