Russian stock market only edges up for day after strong morning gains
MOSCOW. July 20 (Interfax) - The Russian stock market, which opened on Wednesday gains later moved into a lateral position and slipped as trading opened in the U.S. The main advancer fro the day was Rostelecom.
Benchmark stocks o the MICEX went up for the day by 0.07% to 1,701.37 point while the RTS Index increased by 0.54% to 1,936.54 points.
The main market leader for the day was Rostelecom, which saw its shares increase by 5.55% on news that up to 100% in the company could be sold to private owners with the state retaining a golden share.
Advancers on the MICEX were Tatneft , up 2.2%, Rosneft - 1.6%, Transneft prefs - 0.7%, VTB - 0.3%, Gazprom Neft - 0.26%, Gazprom - 0.2% and Surgutneftegas - 0.15%.
Shares in Polyus Gold went down 1.5% and Polymetal - down 4.44%, as world prices for precious metals made a downward correction.
Also posting losses were Federal Grid Company , down 0.6%, Sberbank - 0.4%, (prefs down 0.3%), RusHydro - 0.27%, Lukoil - 0.17% and MMC Norilsk Nickel - 0.12%.
Total Classic RTS Trading for the day came to $5.45 million, RTS Standard deals - $354.434 million and MICEX Stock Exchange deals - 36.18 billion rubles.