Russian stock market corrects down, MICEX holds above 1430
MOSCOW. Sept 10 (Interfax) - The Russian stock market Friday corrected down in profit taking following its gains earlier in the week, but the MICEX stock index held above the 1430-mark.
The MICEX closed down 0.25% to 1433.82, and the RTS stock index was off 0.33% to 1487.09. Benchmark stocks fell by up to 1.1%.
In the week as a whole, the MICEX rose 1.7% and the RTS grew 1.3%.
The MICEX Friday saw drops for Gazprom (-0.7%), Gazprom Neft Gazprom Neft (-0.04%), Lukoil (-0.1%), Polyus Gold (-1.1%), Sberbank (-0.4%), MMC Norilsk Nickel (-0.5%) and Rosneft (-0.3%).
There were gains for Rostelecom (+0.8%), VTB (+0.3%) and Surgutneftegas (+0.4%).
Second-tier advancers included Magnit (+7.3%), IDGC Holding (+5.6%), Inter RAO UES (+4.2%), TGK-1 (+3%), TMK (+2.9%) and OGK-2 (+2.4%).
There were losses for Pharmacy Chain 36.6 (-2.7%), Raspadskaya (-2.6%), RTM (-2.5%), Mosenergosbyt (-2%) and IDGC North Caucasus (-1.3%).
Regional fixed-line telcos fell somewhat in the immediate aftermath of Svyazinvest chief Yevgeny Yurchenko's resignation, but soon leveled off, moving up to 1% either way.
RTS Classic Market volume was $2.042 million, RTS Standard turnover reached $476.335 million and MICEX volume came to 37.556 billion rubles.