Gazprom shares lost more than 2% after the decision of the Stockholm arbitration court

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On Thursday the Russian stock market remains in a negative trend. The external background remains negative, and the oil is adjusted sluggish after yesterday’s collapse by 2%. In these circumstances, the domestic indices are not able to go to recovery, also under pressure of negative news in the oil and gas sector. Index Masuri loses 0,25%, and RTS is reduced by 0.5% due to the weakening of the ruble.
Major oil corporations have fallen victim to the negative news background. For example, shares of “Gazprom”, being the largest decline, losing more than 2%, reflecting the decision of the Stockholm arbitration court, which by the end of the dispute about transit of Russian gas through territory of Ukraine has obliged the Russian company to pay the Ukrainian “Naftogaz” of 2.56 billion dollars.
Meanwhile, papers “Rosneft” cheaper by 1.65%, reacting to the reports that the American company Exxon Mobil Corp exits the joint venture with Rosneft, citing sanctions. This decision will result in net losses for Rosneft in the amount of 0.2 billion dollars. Better the market looked papers “Aeroflot”, which after an initial negative reaction to accountability has fallen in price, and then attracted buyers, and now, rising almost 3%. The net profit of the airline by year-end 2017 was reduced by 40%.
Another factor of pressure on domestic paper was the report of the Agency Markit, according to which, in February activity in the manufacturing sector of the Russian Federation decreased from 6-month high of 52.1 to 50.2, barely managing above a “watershed” for 50 points. Further, the attitude of domestic investors will depend on the behavior of American markets – the potential extinction of the trends evade the risk will help to ease the pressure on the indices to end the day.
Igor Kovalyov,
InstaForex companies group