2 Sep 2010 19:25

Russian stock market tops 1400 on improving externals

MOSCOW. Sept 2 (Interfax) - The Russian stock market rose 0.52% to hit 1401.81 points on the MICEX index on Thursday amid improving world stock markets due to U.S. economic news and reports the European Central Bank would leave interest rates where they were, and Russia's largest automaker AvtoVAZ led the growth pack for a second day running.

The RTS index ended the trading day up 0.39% at 1455.64 points as prices for most blue chip stocks gained 0.1%-1.5%.

VTB rose 0.2% on the MICEX Stock Exchange, Gazprom gained 0.6%, Gazprom Neft 0.2%, Rosneft 0.8%, Polyus Gold 1.5%, Lukoil 1.2%, Sberbank of Russia 0.3%, Surgutneftegas 1%, and Rostelecom 2%.

Norilsk Nickel was down 1.4%.

Aside from AvtoVAZ, which climbed 10.8% on the MICEX, second-tier shares that bore watching were the Diod Plant - up 3.5%, the bank Vozrozhdenie - up 2.9%, Mosenergosbyt - up 2.9%, and RusHydro - up 2.8%.

OGK-4 dropped 2.3%, the PIK group of companies lost 2.2%, RTM 2.1%, Northwest Telecom prefs 1.8%, and Uralsvyazinform 1.7%.

Combined trading on the RTS Classic was $3.165 million, on the RTS Standard - $438.9 million, and on the MICEX Stock Exchange - over 42.089 billion rubles.