Russian stocks slide following oil price, European benchmarks

MOSCOW, May 6 (PRIME) -- The Russian stocks market went down modestly on Wednesday following negative crude and European bourses’ dynamics, analysts said.

The MOEX Russia Index fell 0.81% to 2,632.10 and the RTS slid 1.92% to 1,111.43.

“The Russian stock market demonstrated a moderate decrease due to a controversial external background. On the one hand, Russian stocks were pressured by the situation on the energy market with the nearest Brent oil futures again falling below U.S. $30 per barrel, and the dynamics of the European market with major indices losing up to 0.7% by the evening,” senior analyst at Promsvyazbank Bogdan Zvarich said.

“On the other hand, our market was supported by overseas stock exchanges with the Dow Jones and the S&P500 adding 0.1% and 0.3%, respectively, in the first hours of trading,” he added.

Veles Broker analyst Yelena Kozhukhova said that Moscow Exchange was among the top performers to become the local market’s safety asset. The stock rose 1.45% after a downward correction last week.

Power grid operator Rosseti increased 0.06% on the news it can pay 8.852 kopecks per common share and 18.93 kopecks per preferred share in final 2019 dividends, she also said.

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

Company	Change, %	Last price, rbl	Trading volume, bln rbl
Sberbank	+0.49	195.7	9.707
Lukoil	-2.36	4857.5	9.185
Gazprom	-1.55	187.05	8.771
Rosneft	-1.71	336.65	4.967
Novatek	+0.02	1060	4.806

(72.7263 rubles – U.S. $1)

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