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RTS Index to Surpass All-Time High Record

Published: July 26, 2005 (Issue # 1090)


MOSCOW The benchmark Russian Trading System, or RTS, index came within striking distance of an all-time high on Monday, the first day of extended trading hours on the bourse.

The dollar-denominated index rose 1.18 percent to close at 779.19 points on the back of an almost 4-percent gain by Sberbank. The all-time high of 781.55 was set on April 12, 2004.

The RTS index has risen by 10.3% since the start of this month, and traders say they have never seen a summer rally like this before.

Russian shares have soared after the conviction of Yukos CEO Mikhail Khodorkovsky in late May, as investors seek to put the Yukos affair behind them.

Foreign money has again started chasing Russian shares as the perceived political risks ebbed and local companies raised record sums in initial public offerings abroad.

Although the RTS index, dominated by commodity producers like LUKoil, Norilsk Nickel and Surgutneftegaz, is not a perfect reflection of Russian stocks on the whole, it serves as a historical indicator of market performance.

In the month ending July 22, the Morgan Stanley Capital International Russia index, which is followed by foreign investors, has risen by 9.05 percent. In comparison, Morgan Stanleys MSCI Emerging Markets index gained 5.48 percent.

The RTSs rival, ruble-denominated MICEX index also posted gains of just over 1 percent to close at 702.46 on Monday.

The RTS expanded its hours this week, with the trading starting at 10:30 a.m. and ending at 6:45 p.m. to match those of MICEX. It was previously open between 11 a.m. and 6 p.m.

MICEXs longer hours have attracted investors away from the RTS over the years. Its daily volume overshadows that of the RTS, exceeding it by 15 times on Friday.





 


ALL ABOUT TOWN

Thursday, July 24


Liliana Modiliani, a well-known Russian stylist, will talk about choosing clothes that fit during her lecture at 7 p.m. at the Pryamoy Efir art club, 13 Viborgskoe Shosse.



Friday, July 25


Discuss Russias economic and political prospects for 2014 during a Business Breakfast organized by SPIBA at 9.30 a.m. in the Bank Saint-Petersburg office at 64


Malookhtinsky Prospekt.


Start your weekend with adorable miniature pigs at the Squealing Pig festival at 7 p.m. this evening in the Karl & Friedrich restaurant, 15 Iozhnaya doroga, on Krestovsky Island.



Saturday, July 26


Hundreds of brand-new and retro cars, drag and drift shows, test drives and karting are planned for the Avtobum-2014 festival, which will take place in front of the RIO shopping center at 2 Fuchika Ulitsa.


Participants in todays SaniDay Summer competition will impress visitors with their hand-made, unusual and hilarious boats, which will race at the Igora Resort near the 54th kilometer on Priozerskoe Shosse.


Metro Family Day will include both serious lectures for adults and master-classes for children, making the event interesting for the whole family. To participate, come to Kirov Park on Yelagin Island.


Photography will be the focus of todays Photosubbota, which features lectures by famous photographers, meetings with photo schools and studio representatives, and participation in a photography competition. The event starts at noon at Petrokongress, 5 Lodeynopolskaya Ulitsa.


If you like cycling, make sure to visit the Za Velogorod Festival with its retro bike exhibition, market and live music. The second round of the Leningrad Criterium race will also take place during the event at Petrovsky Arsenal in Sestroretsk.



Sunday, July 27


Navy Day will be celebrated with a weapon and military transportation exhibition, self-defense master classes and concerts. The event starts at 1 p.m. in the 300th Anniversary Park of St. Petersburg.



Monday, July 28


Dont miss a chance to see the latest achievements in robotics during the RoboDom interactive show, exhibiting more than 150 robots. The show will be at BUM center, 22/2 Gzhatskaya Ulitsa, until Aug. 3. The entrance ticket costs 350 rubles ($10).



Tuesday, July 29


A video of a Queen concert from 1986 will be shown today at 8 p.m. in Yaschik, 50/13 Ligovsky Prospekt.



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