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Gas industry

Russian Stock Market Slips on Profit Taking Amidst Oil Price Drop

Strategic Insights

— 1 min read

The Russian stock market dipped on Friday, despite reaching a new high earlier in the week, as investors took profit on falling oil prices. The benchmark RTS stock market index fell 0.21% to 1126.09, while the MICEX dropped 0.43% to 1015.95. Sberbank shares continued to lead the market, rising 1.2% to 37,400 rubles a share on the MICEX.

Key Takeaways:

  • The Russian stock market dipped on Friday, with the RTS index falling 0.21% to 1126.09 and the MICEX dropping 0.43% to 1015.95.
  • Sberbank shares led the market, rising 1.2% to 37,400 rubles a share on the MICEX, despite a slight decline on the RTS.
  • Gazprom shares fell 0.2% to 193.99 rubles a share on the St. Petersburg Stock Exchange after the company's liberalization process was completed.
  • Speculators took profit on falling oil prices and the expected liberalization of the Gazprom share market.
  • The demand for Sberbank shares rose due to the Christmas and New Year holidays, with traders buying shares for the long holidays.
  • Alexander Ryazanov, Deputy Gazprom CEO, was elected as the new president of Sibneft in an extraordinary shareholders' meeting.
  • Yukos shares rose 0.5% on the MICEX due to speculation that Gazprom could gain control of the company and use the funds to pay off its debts.

Statistics:

  • The RTS index fell 0.21% to 1126.09 on Friday.
  • The MICEX dropped 0.43% to 1015.95.
  • Sberbank shares rose 2% on the RTS to 36,400 rubles a share and 1.2% to 37,400 rubles a share on the MICEX.
  • Gazprom shares fell 0.2% to 193.99 rubles a share on the St. Petersburg Stock Exchange.
  • 28.07 million shares of Gazprom changed hands on the St. Petersburg Stock Exchange.
  • Investor interest in Norilsk Nickel shares rose, with shares gaining 2.3% earlier in the week.

Sources:

  • Interfax - "Russian stock market slips Friday on profit taking"
  • Renaissance Capital's Alexei Bachurin - quoted in Interfax
  • Aton Line's Alan Dzarasov - quoted in Interfax
  • Region's Yevgeny Shago - quoted in Interfax
  • Megatrustoil's Alexander Razuvayev - quoted in Interfax
  • Bank of Moscow - quoted in Interfax
  • RTS - Russian Trading System
  • MICEX - Moscow Interbank Currency Exchange
  • Sberbank - RTS: SBER
  • Gazprom - RTS: GAZP
  • Sibneft - RTS: SIBN
  • Yukos - RTS: YUKO
  • Norilsk Nickel - RTS: NIKS

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