The 30-stock Micex index dropped for a sixth day, falling 1.3 percent to 1,532.05 as of 6:03 p.m. in Moscow. The dollar-denominated RTS lost 1.8 percent to 1,656.7.
The following are among the most active equities in the Russian market today. Stock symbols are in parentheses.
OAO Gazprom (GAZP) (GAZP RX) sank 2 percent to 181.67 rubles, dropping for a fifth day and poised for its worst losing streak since Nov. 24. Economy Minister Elvira Nabiullina said she will oppose a request by the country’s gas exporter for an increase in domestic prices for the fuel by about 26 percent this fall.
OAO Sberbank (SBER) (SBER RX) fell 2 percent to 96.27 rubles, its sharpest intraday drop since March 15 as the ruble slid for a third day against the dollar. A weaker local currency encourages Russians to withdraw and convert ruble deposits, Sberbank’s main source of funding.
OAO Surgutneftegas (SNGSP) (SNGSP RX), the country’s fourth-largest oil producer, led declines on the Micex as its preferred shares dropped 1.9 percent to 20.769 rubles and its ordinary stock fell 1.5 percent to 29.602 rubles. Crude oil slid 2.3 percent to $104.79 a barrel in New York. OAO Rosneft (ROSN) (ROSN RX), Russia’s biggest oil producer, sank as much as 0.6 percent.
To contact the reporter on this story: Alex Nicholson in Moscow at firstname.lastname@example.org
To contact the editor responsible for this story: Gavin Serkin at email@example.com