The indices of Russia’s stock exchanges are recovering after a string of losing sessions. By 2:05 p.m. MSK, RTS surged 2.25 percent to 1,855.47 and MICEX climbed 2.49 percent to 1,447.3.
Photo: Borislav Kozlovsky
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Oil Companies Fueled RTS, MICEX
The indices of Russia’s stock exchanges are recovering after a string of losing sessions. By 2:05 p.m. MSK, RTS surged 2.25 percent to 1,855.47 and MICEX climbed 2.49 percent to 1,447.3. Stocks of the oils are the market leaders today.
Gazprom stocks soared 3.7 percent on RTS and gained 2.65 percent on MICEX. LUKOIL grew 2.63 percent on MICEX and Tatneft went up 4.02 percent.
The recent weeks were extremely disadvantageous for RTS and MICEX. The indices fell roughly 14.5 percent by results of July and the movement was similar in August, although certain growth was noticed August 6.
Among the reasons of such poor performance are the change for the worse in investment climate due to Vladimir Putin’s attack on Mechel and the clashes of TNK-BP holders and the drop in prices for crude oil.
www.kommersant.com
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