11 Jun 2018 22:05

Russia's stock market fall caused by geopolitics constrained by rise in European, crude oil prices

MOSCOW. June 11 (Interfax) - The Russian stock market declined moderately on Monday on geopolitical news on Russia from the G7 summit. The drop was constrained by a rise on European stock markets and a rebound in crude oil prices. The leading decliners were the shares of three Inter-Regional Distribution Grid Companies (IDGCs); those of Mechel and Raspadskaya soared.

The MOEX Russia closed down 0.4% to 2271.74 points and the RTS was down 0.6% to 1142.02. The dynamic of ruble prices for the main blue chips on the Moscow Exchange remained mixed within the 3.9% range.

The dollar was up by 0.16 rubles to 62.68 rubles/$1 after this morning's fall to 62.05 rubles/$1.

The leading blue chip decliners were Magnit (-1.4%), Rusal (-1.4%), Bashneft (-1.3%), Gazprom (-1.3%), Aeroflot (-1.1%), Sberbank (-1.1%), Moscow Exchange (-0.9%), VTB (-0.8%), Rosseti (-0.8%), Lukoil (-0.8%), and AFK Sistema (-0.6%).

There were advances for Mechel (+3.9% for ordinary shares and +1.3% for preferred shares), Raspadskaya (+3.4%), Rostelecom (+2.5%), Severstal (+1.6%), Rushydro (+1%), and Gazprom Neft (+0.8%).

The shares of Magnitogorsk Iron & Steel Works were down 0.5% to 48.6 rubles.

In the second tier the leading decliners were the 2017 dividend-losers IDGC of Volga (MRKV: MOEX (-7.6% to 0.1227 rubles, dividends -0.0148 rubles per share), IDGC of Ural (-7.7% to 0,204 rubles, dividends -0.0216 rubles), IDGC Center (-2.4% to 0.3445 rubles; dividends -0.0208 rubles). The three are closing shareholder registers on June 13.

The shares of Quadra Power Generation (-3.9%), M.Video (-2.8%), PJSC Enel Russia (-1.7%) also declined.

Advancers included TGK-2 (+3.3%), Mosenergo (+2.2%), the preferred shares of Lenzoloto (+2.1%), the shares of Novorossiysk Commercial Sea Port (+2%), Yandex (+1.6%).

Combined trading volume on the main Moscow Exchange market was 18.541 billion rubles, of which 5.96 billion rubles in Sberbank ordinary shares.