Russian shares, rouble slip on global growth worries

* Rouble down, hit by late fall in oil prices

* MICEX down, hovers close to support level


shares up on possible dividends

By Maya Dyakina

MOSCOW, Oct 8 (Reuters) - Russian stocks fell on Monday andthe rouble weakened, hurt by worries about the health of theglobal economy and lower commodity prices.

The rouble-traded MICEX indexwas down 0.7 percent to1,468.01 at 0700 GMT, while the dollar-based RTSwas off1.0 percent to 1,492.53.

Shares of Russia's third-largest crude producer TNK-BP

were up 1.8 percent after its board of directors saidon Friday it would discuss a possible dividend payout in thecoming weeks.

"High beta" shares, which tend to outperform a rising marketor underperform a falling one, led the retreat on Monday, withRussian steel and coal miner Mechel

and hydroelectricpower producer RusHydrodown 1.6 percent.

The key support level for MICEX stands at 1,465 points, Aloranalyst Natalia Lesina wrote in a note.

Russian stock indexes followed a sell-off in Asian markets

, with investors concerned that China's slowdowncould worsen, while the World Bank has cut its growth forecastsfor the East Asia and Pacific region.

The World Bank report on Russia's economy is due later onMonday.

Local market players were also waiting for internationalreaction to the Eurogroup meeting in Luxembourg to give aclearer vision on the euro zone debt crisis.

"Whether Spain seeks a bailout remains one of the keyquestions on the agenda, as European finance ministers meet inLuxembourg today to discuss Spain," analysts at Urlasib bankwrote in a note.

Trading activity is expected to be lower on Monday, due to apublic holiday in the United States

, with overnightrouble exchange operations shut down.

By 0700 GMT, the rouble had eased 0.6 percent to 31.06against the dollar, taking its cues from the retreat in theglobal oil price - the main source of budget revenue for Russia.

The rouble also gave up 0.2 percent to 40.34 against theeuro

and shed 0.4 percent against the euro-dollarcurrency basket.

Oil, Russia's chief export, fell 0.8 percent with Brentfutures

trading slightly above $111 per barrel.

"Columbus Day holiday in U.S. may lead to a lower activity onRussia's forex market but will not result in a lowervolatility," said Igor Akinshin, a trader at Alfa-bank.

Russian Markets Latest Net % % ChangeChange Change on yearSTOCKSMICEX1468,01 -9,59 -0,65 4,69RTS1492,53 -16,19 -1,07 8,01London ADRs

872,98 17,10 2,00 12,14

Emrg Mkt Indx

1001,14 -8,02 -0,79 9,25

MSCI Russia

799,29 -8,33 -1,03 8,49


92,46 -0,56 -0,60 17,25VTB0,05 -0,00 -0,73 -7,09Gazprom158,09 -0,98 -0,62 -7,71LUKOIL1925,10 -10,10 -0,52 13,07


134,80 -0,40 -0,30 -11,32


31,06 0,19 0,62 -3,38


40,34 0,07 0,17 -3,35

Rouble basket

35,24 0,14 0,39 -3,37DEBT Bid Ask %Rtn CouponRussia 10-yr bond7,70 7,66 0,16 7,60MONEY MARKET Bid Ask CloseOvernight rate5,34 5,84 5,00TABLE FROM POWER PLUS PRO

All data taken from Reuters at 1004 GMT

(Additional reporting by Vladimir Abramov and Zlata Garasyuta;Editing by Hugh Lawson)

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