Russian stocks decline to 1,410 on negative externals; PIK falls after Luzhkov ouster
MOSCOW. Sept 28 (Interfax) - Russian stocks dipped below 1,410 points on the MICEX exchange on renewed concerns about eurozone stability and weak economic data in the U.S.
The MICEX index was down 0.6% to 1,410.11 points and the RTS index edged down 0.28% to 1,483.68 points.
Decliners on MICEX included VTB - down 1.9%, Gazprom - down 0.4%, Gazprom Neft - down 0.6%, MMC Norilsk Nickel - down 0.5%, Rosneft - down 1.5%, Rostelecom - down 0.1%, Sberbank Russia - down 0.7% and Surgutneftegas - down 0.7%.
The market's reaction to Moscow Mayor Yury Luzhkov's dismissal after nearly 20 years on the job was generally muted.
Shares in Bank of Moscow , which is owned by the city government, declined early in the session, but won back the losses by the close, while Moscow property developer PIK Group shed 3.2%.
Among second tier stocks on MICEX, Sollers fell 3.6%, RAO ES Vostok (East Energy System) was down 3% and TGK-13 lost 2.8%, while Avtovaz gained 3.2%, Magnit rose 1.8%, AFK Sistema was up 1.3% and Volgatelecom added 1.2%.
Volume totaled $2.64 million on RTS Classica, $385.8 million on RTS Standard and 40.677 billion rubles on MICEX.
RTS$#&: AFKS, AVAZ, GAZP, GMKN, GUTB, LKOH, LSRG, MGNT, MMBM, NNSI, PIKK, ROSN, RTKM, SBER, SIBN, SNGS, SVAV, TGKM