Russian stocks slide on oil price fall, drone attack on Kremlin - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Russian stocks slide on oil price fall, drone attack on Kremlin

MOSCOW, May 3 (PRIME) -- The Russian stock market contracted on Wednesday because investors were upset by falling oil prices and a drone attack on the Kremlin, analysts said.

The MOEX Russia Index fell 1.86% to 2,532.42 and the RTS decreased 1.10% to 1,008.49.

УThe rising ruble and the falling oil price exert pressure on the Russian market. Also, the G-7 plans to adjust the 11th package of sanctions against Russia very soon, even though sources say that it will most likely include measures that ensure earlier restrictions,Ф Andrei Kochetkov, leading analyst for global research at Otkritie Research, said.

The falling oil prices hit the shares of Russian oil and gas companies, he said. Rosneft shrank by 2.28% to 381.10 rubles, Tatneft fell by 3.27% to 384.10 rubles, and RussNeft decreased by 6.40% to 117 rubles.

Veles Capital analyst Yelena Kozhukhova said that the oil prices hurt the market mood as the Brent oil price lost more than 3% staying weak during the times of instability of the international economy. At the same time, the U.S. Department of EnergyТs report may show a third consecutive week of contraction of oil reserves later in the day, she said.

УIn the second half of the day, the market mood was under pressure from media reports about a drone attack on the Kremlin residence of the Russian president on Tuesday night and from statements about the Russian sideТs readiness to retaliate, which exacerbated geopolitical tensions even further,Ф Kozhukhova said.

She also said that the ordinary and preferred shares of telecom giant Rostelecom outperformed the market and gained 0.11% to 65.03 rubles and 0.63% to 63.55 rubles, respectively. Rostelecom acquired a 49.9% stake in Inform, a telecommunications business of oil major Lukoil, and consolidated 100% in the asset.

Below are the MOEX Russia IndexТ five most active stocks on Wednesday:

Company Change, % Last price, rbl Trading volume, bln rbl
Sberbank -1.90 238.00 12.753
Gazprom -2.99 172.65 5.384
VTB -3.95 0.021015 4.610
Lukoil -1.31 4521.00 4.039
Mechel -3.57 173.28 2.067

(79.9609 rubles Ц U.S. $1)


03.05.2023 19:18
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 98.7776 -0.1202 18 may
USD 90.9873 +0.0634 18 may
Stock Market Indices
1D 1W 1M 1Y
micex 3501.89 +0.45 18:51 17 may
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 155.06 -1.79 18:47 17 may
lkoh 7856.50 +1.83 18:47 17 may
rosn 592.60 0.00 23:50 17 may
sber 322.91 0.00 23:50 17 may
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 98.5225 -0.1775 14:59 17 may
USDTD 90.9700 -0.0075 17:44 17 may