Russian stock market moves up, MICEX goes over 1,335 points on news from China and U.S, NOVATEK stocks surge upward
MOSCOW. June 7 (Interfax) - Russia's stock market closed Thursday trading with gains as the MICEX Index went over 1,335 points in light of an upswing on world exchanges following news that the People's Bank of China will reduce rates. In addition, news from the U.S. and the Federal Reserve helped support stock quotations.
Benchmarks on the MICEX went up by 1.8% to 1,336.33 points while the RTS Index increased by 2.1% to 1,303.96 points. Blue chips on the MICEX-RTS Exchange increased within 4.6%.
The main advancer for the day was NOVATEK , up 6.1% to 320.44 rubles a share on news that the company's board of directors has approved a buyback program for shares and GDRs worth $600 million. The program commences on June 7, 2012.
Other advancers for the day include VTB , up 3.5%, Gazprom - 1.1%, Gazprom Neft - 0.7%, MMC Norilsk Nickel - 3.7%, Rosneft - 0.2%, Rostelecom - 0.7%, Sberbank - 3.5%, Surgutneftegas - 0.5% and 4.6% on prefs, Tatneft - 3.7%, Transneft - 4.5%, and Federal Grid Company UES - 1.8%.
Posting gains among second tier stocks on the MICEX-RTS were IDGC Holding, up 9%, AFK Sistema - 5.9%, TGK-1 - 4.9%, RusHydro - 4.8%, and Novolipetsk Steel - 4.8%.
Posting losses were prefs in Tatneft, down 2.8%, PIK Group - 2.4%, O2TV - 1.2%, Aeroflot - 1.1%, and Mosenergosbyt - 0.9%.
Total stock trading on the MICEX-RTS exchange came to 51.278 billion rubles (17.29 billion rubles of which were for Sberbank shares), Standard sector transactions - $233.403 million, and Classica deals - $2.047 million.