Russian RTS Stock Index Hits 4-Month Low Amid Weak Oil Prices and Ruble Decline

Strategic Insights -

The Russian stock market began the week on a sour note, with the RTS index plummeting to a 4-month low due to a combination of factors, including decreased global market trading, dwindling oil prices, and a weaker ruble. The MICEX stock index closed down 0.7% to 1584.92, while the RTS fell 2.2% to 840.37. The ruble's decline exacerbated the woes of several prominent Russian companies, including Gazprom, Lukoil, and Rosneft.

Key Takeaways:

  • The Russian RTS stock index reached a 4-month low, closing at 840.37, a 2.2% decline from the previous day.
  • The MICEX stock index also experienced a decline, closing down 0.7% to 1584.92.
  • Oil prices slid, contributing to the market's downturn, as the ruble's value declined by 0.1%.
  • Several major Russian companies saw significant declines, including Gazprom (-1.4%), Lukoil (-2.8%), and Rosneft (-0.1%).
  • Some companies managed to buck the downward trend, with VTB (+0.6%), Magnit (+0.9%), and Novatek (+1.4%) experiencing gains.
  • The combined trading volume on the main Moscow Exchange market reached 35.778 billion rubles, with 14.415 billion rubles in Sberbank ordinary shares traded.

Statistics:

  • The RTS index declined by 2.2% to 840.37.
  • The MICEX stock index closed down 0.7% to 1584.92.
  • Oil prices declined, contributing to the market's downturn.
  • The ruble's value declined by 0.1%.
  • Gazprom saw a 1.4% decline in value.
  • Lukoil's value decreased by 2.8%.
  • Rosneft's value decreased by 0.1%.
  • VTB gained 0.6% in value.
  • Magnit's value increased by 0.9%.
  • Novatek's value increased by 1.4%.

Sources:

  • Interfax, "Russian RTS stock index hits 4-month low due to falling oil, weaker ruble" [NO DATE]