Mixed day for Russian stocks, MICEX tops 1,400 on heightened volatility
MOSCOW. Nov 23 (Interfax) - The Russian stock market demonstrated varying trends for blue chips on Wednesday as the MICEX Stock Exchange managed to move up and hold above 1,400 points as part of a correction. Trading for the day was accompanied by volatility driven by a large block of stats for Europe and the U.S.
Benchmark stocks on the MICEX Stock Exchange went up by 01.7% to close at 1,404.26 points while the RTS Index went down by 0.64% to 1,422 points. The majority of benchmark stocks changed within 2.9% during the day.
Advancers on the MICEX were Gazprom Neft , up 0.4%, Lukoil - 0.3%, MMC Norilsk Nickel - 1.9%, Sberbank - 0.5% and Federal Grid Company - 2.9%.
Shares in Polymetal increased by 0.2% to 512.3 rubles. The shares were supported by news of an offer put up by PMTL Holding Ltd, the subsidiary of Jersey-registered Polymetal International, at 531.15 rubles per share.
Decliners for the day were VTB , down 1.7%, Gazprom - 0.9%, NOVATEK - 1.3%, Rosneft - 0.9%, Rostelecom - 0.9%, Surgutneftegas - 0.6%, and Tatneft - 1.1%.
Second-tier MICEX advancers included Mobile TeleSystems (MTS) (+5.5%), Sistema (+5.4%), Novolipetsk Steel (NLMK) (+3.4%), E. ON Russia (+1.5%), Magnit (+1.4%) and Acron (+2.9%).
Second-tier decliners included O2TV (-4.6%), TGK-9 (-3.6%), Mechel (-3.1%), PIK (-2.8%), TMK (-2.6%) and OGK-3 (-2%).
RTS Classica Market volume was $1.952 million, RTS Standard turnover reached $490.45 million and MICEX volume came to 67.202 billion rubles, including 25.l56 billion rubles in Sberbank ordinary shares.