Russian stocks sag hit by investor wariness over rising tensions

MOSCOW, Mar 14 (PRIME) -- Mounting political tensions between Russia and Western states drove the Russian stock market down on Wednesday, analysts said.

The MOEX Russia Index dropped 1.9% to 2,275.24 and the RTS fell 2.69% to 1,251.19.

“Sales in Russian stocks have evidently started and tend to strengthen. Speculations about new sanctions from concurrently the United States, Britain and even Europe are the main reason for the wariness… The sooner Russian presidential elections are the higher the pressure is,” Vasily Oleinik, investment company Finam analyst, said.

He added that earlier in March the E.U. prolonged sanctions against local companies and individuals for six months and that CIA director Mike Pompeo, who is even more unfriendly to Russia than his predecessor, has taken the position of the U.S. State Secretary.

Otkritie Broker analyst Andrei Kochetkov said that Germany’s new plan to diversify gas purchases drove shares of Gazprom and Novatek down 2.77% to 138.8 rubles and 0.67% to 726.7 rubles, respectively.

Kochetkov added that all blue chips fell, including top bank Sberbank, which sank by 4.18% to 262.5 rubles and Norilsk Nickel that decreased by 1.98% to 10,881 rubles.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-4.18%	262.5	16.544
Gazprom	-2.77%	138.8	4.460
Aeroflot	-1.28%	161.6	2.481
Norilsk Nickel	-1.98%	10881	2.316
Magnit	-1.58%	4970	2.020

(56.9359 rubles – U.S. $1)

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