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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 Stanley’s MSCI Emerging Markets index gained 5.48 percent.

The RTS’s 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.

MICEX’s 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 31


Develop your leadership abilities during a lecture by famous Russian author and coach Radislav Gandapas. The event starts at 9 a.m. at 5 Lodeinopolskaya Ulitsa. The price for entry is 20,500 rubles ($570).


Relax and enjoy a Parisian atmosphere with some romantic and laidback jazz tunes during the Night of French Music at Lenny Jam Cafe, 63 Ligovsky Prospekt. The entrance fee is 250 rubles ($7).


The Women’s Business Club is hosting a Beauty Brunch where participants are invited to discuss the latest news in the beauty industry and listen to lectures by professional stylists in the business.



Friday, Aug. 1


Bikers from all around the world will gather to take part in a parade, extreme shows and rock concerts during the International Biker Festival that revs its engines today and runs through Aug. 3 near Olgino Hotel, 4/2 Primorskogo Shosse.


The Peter and Paul Fortress will be turned into an open-air cinema today and tomorrow as part of the 5th International Short and Animation Film Festival. A huge screen across the fortress walls will air short films non-stop with board games, photo sessions and other activities also on offer for visitors. For more information, visit www.opencinemafest.ru



Saturday, Aug. 2


Gatchina Palace Park Museum will host its second annual Night of Light, an impressive audio-visual show across the night sky. Tickets are 600 rubles ($16).


If graphic design is more your thing then check out Illustration Day, where you will be able to visit an exhibition, attend lectures by professionals and even show experts some of your own work. The event starts at noon at Zona Deystvia, 73 Ligovsky Prospekt. The entrance fee is 350 rubles ($10).



Sunday, Aug. 3


History lovers shouldn’t miss the chance to see reenactments of World War I battles in Pushkin at noon. Besides exciting war scenes, visitors can enjoy live music, historical costumes, an equestrian show and a fancy-dress parade starting from the Moscow gates.


Garage Sale, the popular and growing flea market where nothing is priced over 500 rubles ($14.11), starts today at noon in Loft-Project Etagi, 74 Ligovsky Prospekt. Be sure to get in early to score a bargain. Entry costs 50 rubles ($1.40)



Monday, Aug. 4


Continue the working week with a calm and steady mind with a free yoga lesson at 7 p.m. in the Bukvoyed store at 23A Vladimirsky Prospekt.



Tuesday, Aug. 5


Visit The Romanov Dynasty doll exhibition today, where more than fifty porcelain dolls depicting Russian rulers, and made by Olina Ventzel, will be on show. The exhibition continues through Aug. 31 in Sheremetyev Palace, 34 Fontanka Naberezhnaya.



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