01.11.2007, 21:25
RTS Market Roundup for October 31
OREANDA-NEWS. Throughout Wednesday, October 31, Russian stock market was moving under a weak growing trend. Market rose while waiting for Fed's decision regarding the value of the base rate. Yesterday, banking sector was moving before every other - shares of Sberbank were dragged along with RTS. This growth could have been triggered by rumors on possible listing of the company over LSE. Veles Capital's analysts point out that for the past two trading sessions these shares were below the general market and even this slight positive news caused quotes of bank to grow. Oil segment rose as well - high oil prices could have caused this. RTS of Wednesday rose +0.76% and totaled 2223.06 points. Top index support was provided by stock of: Sberbank (+1.65%), LUKOIL (+1.34%) and Norilsk Nickel (+2.8%). Negative influence over RTS was brought by: Rosneft (-0.34%), Mechel (-1.03%) and Severstal-Avto (-2.04%). Turnover of the index reached 55.3 mn USD. Largest trading volumes were registered with shares of: UES (13.4 mn USD), Sberbank (10.9 mn USD) and Gazprom (10.6 mn USD). Taking into account that yesterday Feds cut the base rate by 0.25 p.p., this might have triggered support for Russian stocks. Brent oil exceeded 91 USD per barrel prior to trades.
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