MOSCOW - The Russian stock market kicked the new month off by falling with the rest of the world's markets.
More bad news affecting Mechel and the IMF’s decision to lower its 2015 Russian GDP growth forecast added to the gloom.
The MICEX stock market closed down 0.8 percent at 1399.99 and the RTS index was of 0.9 percent to 1113.42. Ruble-priced benchmark stocks fell up to 2.5 percent on the Moscow Exchange.
There were losses for Gazprom (-0.5 percent), Gazprom Neft (-0.1 percent), Lukoil (-1.1 percent), Novatek (-1.1 percent), MMC Norilsk Nickel (-0.8 percent), Polyus Gold (-0.3 percent), Rosneft (-0.9 percent), Rostelecom (-1.7 percent), Sberbank (-1.7 percent), Tatneft (-0.9 percent), FGC UES (-1.8 percent) and Surgutneftegas (prefs, -2.6 percent).
Mechel initially soared 30 percent as concerns about the coal and steel group’s bankruptcy receded, however news of a downgrade by Moody’s and reports that Sberbank had followed VTB in filing a lawsuit against the company sent its share price back down. Mechel closed the day up just 1.9% in the end.
Combined trading volume on the main Moscow Exchange market was 28.795 billion rubles, of which 9.813 billion rubles in Sberbank ordinary shares and 5.175 billion rubles in Gazprom.
