Russian stocks sink on oil price further fall caused by US data

MOSCOW, Jan 13 (PRIME) -- Russian stocks decreased on Wednesday on a lack of own strong ideas for growth and depressed by a fall in oil quotations on weak U.S. data on oil reserves, analysts said.

The MICEX fell 0.33% to 1.684,78 and the RTS decreased 0.24% to 693.65.

The Russian stock market decreased on the back of an oil price fall to about $30.5 by the closing bell after the U.S. Department of Energy said that country’s weekly oil reserves increased less than expected, Mikhail Abramov, an analyst at Veles Capital, said.

“The Russian stock market made an attempt during the day to storm 1,700 points at the MICEX and 700 points at the RTS, but a new negative wave from abroad led to a moderate decrease in the indices,” Yevgeny Loktyukhov, an analyst at Promsvyazbank said, referring to a failure of Brent to stay above U.S. $31 per barrel and the U.S. oil reserves data.

The domestic stock market still has no own strong ideas for growth amid low oil prices and continued to be driven by worsened external conditions, Loktyukhov said.

Aeroflot grew 3.29% after its CEO Vitaly Savelyev said the company may buy 20 more Sukhoi Superjet 100 planes, Sofya Kirsanova, an analyst at Raiffeisen Capital, said.

Metals exporters looked attractive for investors amid the ruble depreciation, Kirsanova said. Norilsk Nickel gained 0.71% and Novolipetsk Steel (NLMK) increased 0.25%.

Food retailers Dixy and Lenta rose 1.29% and 0.20%, respectively, as investors expect that they will publish stronger operating results for December and October–December than their major competitor Magnit, Kirsanova said.

Pipe producer TMK fell 2.85% and Magnitogorsk Iron and Steel Works (MMK) decreased 2.38% as gas giant Gazprom recently postponed a tender for purchase of pipes for the Sila Sibiri and Nord Stream-2 projects, Abramov said.

Below are the MICEX’ five most active stocks on Wednesday:

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-0.23	91.50	6.892
Gazprom	-1.68	131.30	4.090
Norilsk Nickel	+0.71	8614.00	2.489
Lukoil	+0.07	2225.00	2.050
Magnit	-0.14	10352.00	1.367

(76.6041 rubles – U.S. $1)

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