Russian Stock Market Slides Amid Greek Referendum Results and Oil Prices

Strategic Insights -

The Russian stock market faced a downturn on July 6, with the MICEX stock index closing 0.6% lower at 1621.27 and the RTS falling 1.8% to 902.88. The decline was triggered by the Greek referendum results and oil prices, leading to a significant drop in the value of Russian stocks. VTB, Gazprom, and Rosneft were among the top decliners, while Lukoil, Novatek, and Severstal managed to gain.

Key Takeaways:

  • The Russian stock market closed down 0.6% with the MICEX stock index at 1621.27 and the RTS falling 1.8% to 902.88.
  • VTB, Gazprom, and Rosneft led the decliners with declines of 1.8%, 0.9%, and 2.5% respectively.
  • Lukoil, Novatek, and Severstal showed gains of 1.4%, 1.2%, and 2.1% respectively.
  • Combined trading volume on the main Moscow Exchange market was 25.053 billion rubles, with 8.574 billion rubles spent on Sberbank ordinary shares.
  • The top decliners in the second tier included E. On Russia, IDGC Center, and Rusal, while Alrosa, Magnitogorsk Iron & Steel Works, and PhosAgro managed to gain.

Statistics:

  • MICEX stock index closed down 0.6% to 1621.27.
  • RTS fell 1.8% to 902.88.
  • VTB declined 1.8%.
  • Gazprom fell 0.9%.
  • Lukoil gained 1.4%.
  • Combined trading volume was 25.053 billion rubles.

Sources:

  • Interfax, July 6
  • Moscow Exchange market data