Russian stocks fall on U.S. budget concerns, oil buoys rouble

* Share investors turn bearish amid 'fiscal cliff' fears
* Eyes on Putin at Russia-EU summit
* U.S., European data could move markets

By Sonia Elks
MOSCOW, 21 December (Reuters) - Russian stocks fell on Friday as investors
cut their exposure to risk over concerns about U.S. budget talks, while strong
oil prices and local tax payments supported the rouble.
Investors turned bearish on shares after U.S. House Speaker John Boehner
failed to rally his Republicans behind a bill aimed at winning tax concessions
from President Barack Obama.
At 0714 GMT the rouble-denominated MICEX index was down 0.92 percent
at 1,474.46 points, while the dollar-denominated RTS index lost 1.07
percent to 1,512.60.
"The tax-vote cancellation in the US after its markets closed delivered a
serious blow to sentiment... We expect this to set the tone for the Russian
market," said Uralsib analysts in a note.
Energy giant Gazprom outperformed the market, dropping 0.62 per
cent after helping lead a rally on Thursday on plans to cut capital spending in
2013.
Investors will be watching President Vladimir Putin's attendance at a
Russia-EU summit in Brussels for any comment on energy, and gas in particular,
said analysts at Sberbank Investment Research. Good news from there could send
Gazprom's stock higher, they said.
"Any progress in the often difficult energy relationship between Brussels
and Moscow at today's meeting might further add to that rally," they wrote.
During the day, a slew of U.S. data including personal income and spending
updates - as well as indicators from Europe - could move stocks today.
The rouble was supported by oil, Russia's main export, as Brent prices
continued to head higher, topping $109 dollars a barrel. The Russian currency
also benefited from month-end local tax payments by exporters.
The rouble rose 0.12 percent to 40.55 against the euro but
weakened 0.15 percent to 30.71 against the dollar. It inched up
0.07 percent to 35.14 against its euro-dollar basket.

Russian Latest Net % % Change on
Markets Change Change year
STOCKS
MICEX 1474.46 -13.76 -0.92 5.15
RTS 1512.60 -16.29 -1.07 9.46
London ADRs 881.73 11.89 1.37 13.27
Emrg Mkt 1044.16 -8.52 -0.81 13.94
Indx
MSCI Russia <.MIRU00000PUS 804.15 -6.11 -0.75 9.15
Sberbank 93.77 -0.92 -0.97 18.91
VTB 0.05 -0.00 -0.53 -7.63
Gazprom 141.87 -0.88 -0.62 -17.18
LUKOIL 2026.90 -13.00 -0.64 19.05
Rostelecom 117.74 -1.91 -1.60 -22.54
Dollar/Roub 30.71 0.05 0.15 -4.47
e
Euro/Rouble 40.55 -0.12 -0.28 -2.85
Rouble 35.14 -0.03 -0.07 -3.63
basket
DEBT Bid Ask %Rtn Coupon
Russia 6.76 6.75 0.00 7.60
10-yr bond
MONEY Bid Ask Close
MARKET
Overnight 6.25 6.76 6.47
rate

All data taken from Reuters at 0714 GMT

(Reporting by Sonia Elks; Editing by Douglas Busvine, John Stonestreet)