AvtoVAZ shares surge on crest of machine-sector rally
MOSCOW. Sept 1 (Interfax) - Shares in Russia's largest automaker AvtoVAZ soared to a level not seen in more than two years, rising more than 20% at the start of MICEX trading and leading a local wave of machine-building sector rallying.
By 2:51 p.m. Moscow time, ordinary AvtoVAZ shares were up 21.9% on the MICEX Stock Exchange at 24.5 rubles per share (the most since early August 2008), and the company's preferred shares had rise3n 13.8% to 5.575 rubles (the most since late September 2008).
Truck-maker KamAZ had gained 5.4% on the MICEX and Sollers was up 6.6%.