Russian stocks decrease on Gazprom news, oil price fall - Financial Wire - 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 decrease on Gazprom news, oil price fall

MOSCOW, Feb 8 (PRIME) -- The Russian stock market declined on Thursday as executives of Gazprom disappointed market participants by statements during an investor day, and the Brent oil price fell to about U.S. $65 per barrel, analysts said.

The MOEX Russia Index fell 1.22% to 2,227.24 and the RTS index decreased 2.56% to 1,210.69.

УThere are several displeasing issues for the Russian market. Firstly, Oracle has changed the terms of software provision to Russian oil and gas sector companies. Secondly, Gazprom will not surprise the market with dividend or net profit growth in the years to come, and will consider buying back shares only after completion of large-scale projects,Ф Andrei Kochetkov, an analyst at Otkritie Broker, said. The news that Gazprom will build the TurkStream gas pipeline at own expense was also a disappointment, he added.

Kochetkov said that the oil price decline to a level of about $65 per barrel is pressurizing the Russian market as well.

As a result, the oil and gas sector pulled down the entire Russian market, he said.

Vitaly Manzhos, a senior risk manager at investment company Nord Capital, said that the RTS index was decreasing at a faster pace on the back of weakening of the ruble.

He said that Bank Vozrozhdenie grew on the news that Suleiman Kerimov is in talks to buy the bank.

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

Company Change, % Last price, rbl Trading volume, bln rbl
Sberbank -1.7 253.19 9.527
Gazprom -2.7 137.2 5.940
Lukoil -1.31 3686 3.737
ALROSA +2.86 86.4 3.137
Magnit +2.12 4825 2.654

(56.9533 rubles Ц U.S. $1)


08.02.2018 19:34
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 74.9022 -0.6336 17 nov
USD 65.9931 -0.6228 17 nov
Stock Market Indices
1D 1W 1M 1Y
rtsi 1134.93 +0.34 18:50 16 nov
micex 2372.67 -0.37 18:50 16 nov
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 153.16 -0.64 18:49 16 nov
lkoh 4824.00 -0.62 18:49 16 nov
rosn 420.85 -0.80 18:49 16 nov
sber 199.26 -0.44 18:49 16 nov
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 74.9025 -0.2975 14:59 16 nov
USDTD 65.7225 -0.8775 17:44 16 nov