7 Feb 2012 12:22

Russian stock market starts posting gains as European exchange opens, MICEX goes over 1,570 points for first time since summer 2011

MOSCOW. Feb 7 (Interfax) - The Russian stock market started posting gains on Tuesday once markets in Europe opened. The MICEX Index went up over 1,570 points, hitting its highest point since August 2011 on expectations of news on the fate of Greece's debt problem.

By 12:05 pm Moscow time, the MICEX had gone by 0.5% to 1,571.21 points, the highest posting since August 5, 2011. The RTS Index went up by 1% to 1,643.19 points. The majority of benchmark stocks on the MICEX-RTS increased within 1%.

The main advancers were Polyus Gold , up 1%, Tatneft - 1.2%, and Surgutneftegas prefs - 2.7%.