16 Sep 2010 19:17

MICEX share index holds above 1430 pts on rising Rosneft

MOSCOW. Sept 16 (Interfax) - The Russian stock market held at above 1430 points on the MICEX index thanks to Rosneft shares rising on news of a possible extension of company oil-export incentives as other blue-chip shares lost ground amid negative externals.

The MICEX index closed down 0.37% at 1431.09 points, the RTS index lost 1.39% to 1463.88 points, and prices for a majority of benchmark shares were down 0.4% to 2.1%.

Rosneft gained 2.5% on the MICEX after reports export incentives for Vankor deposit oil might be extended until 2014. Rosneft was the second most heavily traded stock on the day after Sberbank of Russia .

Norilsk Nickel gained 0.7% on the day.

VTB was down 0.6% on the MICEX, Gazprom lost 0.4%, Surgutneftegas 2.1%, Tatneft 0.7%, Gazprom Neft 1%,and Sberbank 1.7%.

On the MICEX second tier, the loss-leaders were IDRC Holding (down 3.2%), the plant Diod (2.7%), and Transneft (2.3%)

Stock in OGK-4 rose 2.7%, O2TV gained 2.1%, Uralsvyazinform 2%, and RTM 2%.

Novorossiysk Shipping Company (Novoship) soared 16.1% on the RTS on news that the company intends to decrease its charter capital by cancelling almost 10% of shares, buy up 100% of its prefs and almost 8% of its ordinary shares.

Trading combined to $3.956 million on the RTS Classic, to $577.37 million on the RTS Standard, and topped 38.346 billion rubles on the MICEX Stock Exchange.