27 Sep 2010 19:42

Russia follows global equity markets down

MOSCOW. Sept 27 (Interfax) - The Russian stock market followed the global equity markets and oil prices down on Monday.

The MICEX index fell 1.21% to 1418.67 and the RTS was off 0.05% to 1487.86. Benchmark stocks fell 0.3%-4.1%.

Lukoil was the biggest loser, down 4.1% on the MICEX to 1,729 rubles a share once the speculation about how much stock it would buyback from ConocoPhillips by the September 26 deadline for exercising its buyback option, and after it was reported the company had not been admitted to a tender for the rights to the big Trebs-Titov oilfields.

The MICEX also saw drops for VTB (-2.2%), Gazprom (-0.3%), Gazprom Neft (-1%), MMC Norilsk Nickel (-0.5%), Polyus Gold (-0.5%), Rosneft (-0.5%), Sberbank (-1.4%) and Tatneft (-0.7%).

But there were gains for Rostelecom (+1.4%) and Surgutneftegas (+1.5%).

Second-tier decliners on the MICEX included Avtovaz (RTS; AVAZ) (-3.2%), Pharmacy Chain 36.6 (-2.4%), NOVATEK (-2.3%) and Acron (-2.2%).

But there were gains for Magnitogorsk Iron & Steel Works (MMK) (+3.2%), Center and Volga Inter-District Grid Company (+2.4%), Raspadskaya (+1.6%) and Novolipetsk Steel (NLMK) (+1.4%).

RTS Classic Market volume was $6.642 million, RTS Standard turnover reached $376.23 million and MICEX volume came to 39.517 billion rubles.