Brent slipped 1.6 percent on Wednesday, its quotations below $70 at some points of trading.
Photo: Vasily Shaposhnikov
|
 |
RTS Index Inches below 1,900 Points
The RTS benchmark went below the landmark 1,900 point level on Thursday, edging down 1.2 percent, to 1,893.22 points. The MICEX index dropped 1.6 percent. Trading activity was overall slack. At the RTS classic market, trading volume came to $28 million, down from $41 million on Wednesday.
A downward correction on the Russian stock market followed a similar trend in the United States where the Labor Department had released a report showing that the number of workers seeking unemployment benefits rose 10,000 last week to a two-month high. The news weighed down U.S. benchmarks by 1 to 1.5 percent.
“A drop in U.S. listings triggered a fall on Russian stock exchanges,” says Roman Andreev, vice-president at Centrinvest Securities. “But the sell-off was mainly Russian.”
Declining world oil price supported the downward move. A barrel of Brent slipped 1.6 percent on Wednesday, its quotations below $70 at some points of trading.
In corporate news, retailer Magnit on Thursday added 5 percent, to $44, on high operation results for the five months of the year. The company’s revenue jumped 55 percent, to $1.3 billion, outstripping the market's expectations.
www.kommersant.com
All the Article in Russian as of June 22, 2007
|
|
|
