Russian stocks correct lower on profit taking
MOSCOW. March 1 (Interfax) - Russian stocks declined amid a wave of profit taking on Tuesday, mimicking the downward correction on U.S. exchanges.
The MICEX index closed down 1.09% to 1,758.44 points and the RTS fell 0.37% to 1,962.66 points.
Decliners on MICEX included VTB , down 3.1%, Gazprom fell 0.6%, Gazprom Neft was down 3%, Lukoil - 0.4%, Polyus Gold - 0.4%, Rosneft - 1.2%, Sberbank - 2.2%, Surgutneftegas - 0.2% and Tatneft - 0.8%.
Rostelecom shot up 3.3% on a buy recommendation from Alfa Bank , and MMC Norilsk Nickel edged up 0.3%.
In the second tier on MICEX, Sibirtelecom shed 3.9%, Razgulay (RTS; GRAZ) lost 3.6% and Mechel fell 2.6%.
Advancers included Avtovaz - up 3%, O2TV - 2.9%, Uralkali - 2.6%, Aeroflot - 1.7%, and IDGC of North Caucasus - 1.6%.
Uralkali purchased 9.99% of shares in Silvinit from Otkritie Securities Limited for $1.4 billion on Monday in the first stage of the merger of the two companies. The next stage will see Silvinit shares exchanged for Uralkali stock.
Volume totaled $6.933 million on RTS Classica, $638.76 million on RTS Standard and 70.711 billion rubles on MICEX.
RTS$#&: AFLT, ALFB, AVAZ, ENCO, GAZP, GMKN, GRAZ, GUTB, LKOH, MEGF, MRKK, MTLR, NVTK, PLZL, PTRL, ROSN, RTKM, SBER, SIBN, SNGS, TATN, URKA, VIMP, VTBR
