Russian stock market makes downward correction, Rostelecom stocks soar
MOSCOW. May 13 (Interfax) - Russia's stock market made a downward correction after gains posted over the last several days. The main exception on the market was Rostelecom , the stock's of which soared on the news of the share buyback price for shareholders in disagreement with the company's reorganization (1.4002 rubles per common share and 2.1005 rubles per preferred share).
Benchmark stocks on the RTS Index decreased by 0.63% to 1,476.03 while the MICEX Stock Exchange went down by 0.9% to 1,378.7 points).
Futures on the RTS Index dropped against the base asset by 7.4 points, indicating a neutral mood among investors.
Posting losses on the MICEX Stock Exchange were VTB , down 0.5%, Gazprom - 1.9%, Lukoil - 1.2%, Polyus Gold - 0.4%, Rosneft - 0.9%, Surgutneftegas - 0.3% and Tatneft - 1.5%.
Sberbank stocks, which posted gains in morning trades, declined for the day by 1.4% to 80.4 rubles per share.
Posting gains were MMC Norilsk Nickel , up 0.5% and Gazprom Neft - 0.1%.
Rostelecom's common shares increased by 9.2%, prefs- 8.1%.
Posting losses among second tier stocks were TGK-9 , down 4.2%, TGK-14 - 4.2%, TGK-13 - 3.7%, Transneft - 3.4%, IDGC North Caucasus - 2.8% and the PIK Group - 2.8%.
Posting gains were Sollers , up 10.7%, Vozrozhdenie - 5.3%, Inter RAO UES - 4.8% and North-West Telecom - 2.7%.
Total RTS Classic Trading for the day came to $7.495 million, RTS Standard - $665.64 million and MICEX Stock Exchange deals - 77.965 billion rubles.