14 Dec 2011 19:18

Russian shares fall on western sell-off

MOSCOW. Dec 14 (Interfax) -Russian share prices fell on a new wave of western sales towards evening.

The RTS and MICEX indexes, which had tested 1400 at one stage, fell back: the former closed down 1.3% at 1369.65 after reaching an intra-day high of 1401.35; and the latter ended the day 0.5% worse off at 1372.42, after rising as high as 1406.82.

Benchmark stocks fell by up to 3.5%.

The MICEX saw drops for VTB (-1.4%), Gazprom ( -1.1%), Lukoil (-1.4%), MMC Norilsk Nickel (-1.1%), Polyus Gold (-3.5%), Rosneft (RTS: ROSN (-1.6%), Rostelecom (-1.7%), Sberbank (-1.7%) and Surgutneftegas (-1.2%).

There were gains for NOVATEK (+3.2%), t Tatneft (+0.9%) and FGC (+4.8%).