11 Nov 2010 10:53

MICEX share-trading opens on upswing as oil prices rise

MOSCOW. Nov 11 (Interfax) - Russia's MICEX Stock Exchange opened on Thursday with the MICEX index gaining 0.6% to 1584 points in early trading as oil prices worldwide continued to climb, and RTS-listed Russian oil pipeline company Transneft's prefs leading the growth pack.

By 10:31 a.m. Moscow time, the RTS index was also up - 1.12% to 1655.3 points - and most benchmark shares had posted early gains of within 1%.

VTB was up 0.9% on the MICEX, Gazprom had risen 0.6%, Gazprom Neft 0.7%, Norilsk Nickel 0.7% as well, Lukoil 0.5%, Polyus Gold 0.9%, Rosneft 0.7%, Rostelecom 0.4%, Sberbank of Russia 0.7%, Surgutneftegas 0.2%,and Tatneft 0.7%.

Transneft prefs were up 9.6% at 39,282 rubles per by 10:37 a.m. on Thursday, following their inclusion on the MSCI Russia Standard weighted 0.81%.

Stock in IDGC Holding, despite its unexpected non-inclusion on the MSCI Russia, was down 4.2%.

The MSCI Russia IMI includes shares in OJSC OGK-2 (weight 0.35%), Mosenergosbyt (0.05%), and Pharmacy Chain 36.6 (0.07%). These shares were up from 1% to 2% on the MICEX Thursday morning.

The bank Vozrozhdenie's shares bucked the trend, however, dropping 0.6%.