Russian stocks slide due to discouraging global environment

MOSCOW, Apr 16 (PRIME) -- The Russian stock market edged down on Monday discouraged by a threat of new U.S. sanctions against domestic chemicals producers, correcting oil and a negative global environment, analysts said.

The MOEX Russia Index slid 1.45% to 2,143.67 and the RTS sagged 1.75% to 1,085.16.

“Sellers dominated on the Russian stock market. Partially, the external background was responsible for it as European indices were seen in the red territory. Crude demonstrated negative dynamics, too. And finally, the U.S. may announce new restrictions against Russian legal entities and individuals,” Otkritie Broker analyst Andrei Kochetkov said.

On April 15, U.S. Ambassador to the U.N. Nikki Haley said that on Monday the U.S. would blacklist the Russian companies that supplied technologies to Syria.

The U.S. White House Press Secretary Sarah Huckabee Sanders confirmed later that the government was considering new sanctions against Russia following an alleged chemical weapons attack in the Syrian town of Douma and that a decision will be made soon.

Senior analyst at Freedom Finance Bogdan Zvarich said that precious metals producer Polymetal International, metals giant Norilsk Nickel and top lender Sberbank were the market outsiders losing over 5.5%.

The ruble failed to rise despite a statement of Igor Dmitriyev, director of the central bank’s monetary policy department, that the regulator had removed all limits for a possible increase of the key rate, so it may go up from 7.25% annually on April 27 to support the national currency.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	-6.17%	192.06	39.539
Norilsk Nickel	-5.62%	9900	5.881
Gazprom	-0.76%	141.5	3.773
Sberbank	-4.47%	172.59	3.552
Lukoil	-0.26%	3892	2.938

(61.4311 rubles – U.S. $1)

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