Russian stock market has negative start to summer
MOSCOW. June 1. (Interfax) - The Russian stock market had a negative start to the summer due to global pessimism from weak Chinese, European and U.S. statistics.
By the end of Friday's trade, the MICEX index had fallen 0.6% to 1298.08 points, and the RTS index had dropped 1.2% to 1227.65 points.
The majority of benchmark stocks on the MICEX-RTS Stock Exchange had declined by up to 7.5%, led by TNK-BP (-10.3% for ordinary shares and -6.2% for prefs) and followed by Sberbank of Russia prefs (-7.5%), FGC UES (-6.7%), Tatneft (-2.4%), ordinary Sberbank shares (-3.5%), VTB (-2.8%), Gazprom Neft (-2.7%), MMC Norilsk Nickel (-1.7%), Polyus Gold (-0.3%), Rosneft (-1%) and Surgutneftegas (-0.2%).
Second-tier losers included RAO ES of East (-8.2%), IDGC Center and Volga (-7.2%), IDGC North Caucasus (-6.8%), Irkutskenergo (-5.8%), AFK Sistema (-5.5%) and Sollers Group (-5.2%).
Second-tier gainers were VSMPO-Avisma Corporation (+5.2%), Uralkali (+1.1%), RusHydro (RTS:HYDR) (+0.8%) and TMK (+0.7%).
Combined trading volume on the main MICEX-RTS market was 49.4 billion rubles (15.612 billion rubles of which were from Sberbank ordinary shares). In the Standard sector, trading volume was $281.05 million, and in the Classica sector - $4.122 million.