The price of Russian gas monopoly Gazprom common share fell by 1.59% during trading on the Moscow Exchange, reaching 126.84 rubles ($1,4) per unit, its lowest since Nov. 6, 2017, Interfax reported on May 30.
The Russian stock market resumed its decline due to worsening external stock and commodity market conditions (Brent crude oil fell to $82.4 per barrel) and ongoing expectations of prolonged tight monetary policy by the Russian Central Bank. The MOEX Russia Index dropped to around 3280 points.
The leading decliners were shares of Russian conglomerate AFK Sistema (-4.3%), nickel and palladium mining and smelting company Norilsk Nickel (-2.9%), and digital services provider Rostelecom (-2.9%). Meanwhile, airline Aeroflot’s shares increased by 1.2%.
At the end of trading on May 30, the MOEX Russia Index stood at 3282.18 points (-1.1%), having risen above 3342 points earlier in the day, while the RTS Index was at 1150.88 points (-1.4%). The prices of most blue-chip stocks on the Moscow Exchange fell by up to 2.5%.
By 6:50 p.m. EET, the dollar had risen to 89.82 rubles (+0.31 rubles).
Shares of AFK Sistema (-4.3%), Norilsk Nickel (-2.9%), Rostelecom (-2.9%), Rusal (-2.5%), VTB (-2.2%), OZON (-2.1%), Novatek (-2%), Surgutneftegas (-1.7% and -0.7% for preferred shares), RusHydro (-1.7%), Tatneft (-1.6%), TCS GH (-1.2%), ALROSA (-1.1%), Gazprom (-1.1%), Inter RAO (-0.8%), Lukoil (-0.7%), Sberbank (-0.7% and -1% for preferred shares), Magnit (-0.7%), Polymetal (-0.6%), NLMK (-0.5%), Polyus (-0.5%), MMK (-0.4%), MTS (-0.3%), Moscow Exchange (-0.2%), and Severstal (-0.1%) declined in value.
Gazprom announced its largest annual loss in the past 25 years. In 2023, the company’s revenues fell by approximately 30%, resulting in an annual net loss of about $6.9 billion.
Russia reportedly approached China on May 13 with the aim of increasing pipeline gas sales to 100 billion cubic meters per year by 2030.