Russian stock market posts gains owing to purchases as U.S. markets slip
MOSCOW. Nov 27 (Interfax) - Russia's stock market posted gains after losses in the morning following news about problems faced by the Dubai state investment fund (Dubai World). In morning trades, the MICEX fell to 1,200 points but was able to recover its losses and even post gains.
Benchmark stocks on the MICEX went up by 1.35% to 1286.04 points while the RTS Index increased by 0.2% to 1369.6 points.
RTS futures slipped to 6.6 points against the base assets, indicating a neutral mood among investors.
Advancers for the day on the MICEX were Gazprom , up 1.1%, VTB - 3%, Lukoil - 2.2%, MMC Norilsk Nickel - 2.8%, Rostelecom - 0.8%, Sberbank - 0.6%, Tatneft - 2% and Surgutneftegas - 1.7%.
Decliners for the day were Rosneft , down 0.1% and 3.6% on the RTS, Gazprom Neft - 0.1% and Polyus Gold - 1.4%.
Posting losses among second tier stocks on the MICEX were Avtovaz , down 8.2%, Irkutskenergo - 3.9%, VolgaTelecom - 3.5% and TGK-9 - 3.2%.
Posting gains were Vozrozhdenie Bank , up 5.6%, Transneft - 4.8%, TMK - 4.5% and Belon, up 3.4%.
Total RTS Classic Trading for the day came to $15.29 million, RTS Standard - $622.368 million and MICEX Stock Exchange deals - 79.31 billion rubles, led by common shares in Sberbank (25.15 billion rubles in transactions).