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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

Wednesday, Oct. 1


The St. Petersburg International Innovation Forum 2014 kicks off today at Lenexpo, where it will be presenting the latest and greatest ideas until Oct. 3. Focusing on economic development and the decisions and measures necessary to encourage development in Russias most important industries, the event is a possibility to discuss the innovations currently available in a variety of fields.


Representatives of the Russian and international media industries arrive in St. Petersburg for the first ever International Media Forum being hosted by the city until Oct. 10. With a variety of events on tap, including workshops, lectures and film screenings, the event plans to reemphasize the citys reputation as the countrys culture capital and as an emerging market and location for the visual arts.



Thursday, Oct. 2


The celebration of the bicentennial of the birth of Mikhail Lermontov continues with todays free exhibition in the citys Lermontov Library at 19 Liteiny Prospekt. Titled Under the Rustling Wings, the temporary exhibition will feature the costumes and scenery used in the 1917 production of Lermontovs play The Masquerade, which he wrote in 1835 when he was only 21 years old.



Friday, Oct. 3


Learn more about how to manage and evaluate employee performance during SPIBAs Human Resources Committee meeting this morning on Employee Assessment: Global and Local Trends. Starting at 9:30 a.m., the discussion will touch on such topics as the partnership between HR and business, reliable assessment strategies and more, with Tatiana Andrianova, the head of the SHL Russia and CIS branch in St. Petersburg, as the featured guest. Confirm your participation by Oct. 2 by emailing office@spiba.ru or calling 325 9091.


AmChams Procurement Committee Meeting is at 9 a.m. this morning in their office in the New St. Isaac Office Center on Ulitsa Yakubovicha.



Saturday, Oct. 4


Wine and cheese lovers will get their chance to revel during Scandinavia Country Club and Spas Wine Market Weekend. Going on today and tomorrow, wining diners can listen to live music, take part in culinary classes and, of course, sample a variety of fine wines from around the world. The cost of admission is 400 rubles ($10.30) for adults and 200 rubles ($5.15) for children.



Sunday, Oct. 5


Look for the latest fall fashions at the Autumn Market today in Freedom Anticafe at 7 Kazanskaya Ulitsa. The minimarket plans to offer clothes more flattering than the puffy jackets that are a staple of the citys cold-weather fashion, while offering the same amount of protection from the biting winds blowing off of the Baltic.



Monday, Oct. 6


SKA St. Petersburg, the citys KHL affiliate, welcomes Slovakian club HC Slovan in a match-up tonight at the Ice Palace near the Prospekt Bolshevikov metro station. The puck drops at 7:30 p.m. and tickets can be purchased on the clubs website or in person at either the arenas box office or the clubs merchandise store on Nevsky Prospekt.



Tuesday, Oct. 7


Learn more about Russias energy industry at the St. Petersburg Energy Forum that begins today and runs through Oct. 10. Attracting industry experts and political and business representatives, the forum plans to welcome more than 350 plus companies and their representatives to discuss the future of Russias largest economic sector.



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