Share rally interrupted, RTS falls below 1700
MOSCOW. Dec 8 (Interfax) - The stock market rally in Russia and abroad hit the pause button on Wednesday, and the MICEX and RTS stock indices corrected down following six days of growth.
The MICEX closed down 1.57% to 1650.08 and the RTS was off 1.54% to 1695.41. Benchmark stocks fell 0.9%-2.5%.
The MICEX saw drops for VTB (-2%), Gazprom (-1.1%), Gazprom Neft (-1.9%), MMC Norilsk Nickel (-2%), Lukoil (-2%), Polyus Gold (-2.3%), Rosneft (-1.7%), Sberbank (-2.5%), Surgutneftegas (-1.7%) and Tatneft (-2.3%). Rostelecom was the only first-tier stock to rise, up 1.7%.
Second-tier losers included RBC Information Systems (-3.8%), OGK-4 (-3.7%), Polymetal (-2.4%) and Magnitogorsk Iron & Steel Works (MMK) (-2.3%). There were gains for OGK-1 (+5.1%), Magnit (+2%) and Severstal (+2%).
RTS Classic Market volume was $2.939 million, RTS Standard turnover reached $612.38 million and MICEX volume came to 72.058 billion rubles.