On Tuesday, most liquid names kicked off with a 0.5-1% downturn, although no negative external news, except for a modest drop in crude futures, reached the market. Throughout the session domestic plays posted mild gains, looking at the performances of global exchanges. The release of US macroeconomic data on inflation produced no impact on the market, as the reaction to these data is mixed. The Producer Price Index (PPI) gained 0.6% in July against expectations of a 0.2% increase. PPI, excluding food and energy prices, inched up only 0.1%, while the market expected 0.2% growth. By Tuesdays final bell, the MICEX Index retreated 0.19% to 1,676.85 and the RTS Index edged down 0.1% to 1,925.79.In the blue-chip market, VTB emerged as the days top decliner, off 1.64% and trading 7.35% below the placement price. As crude contracts traded without any significant fluctuations throughout the session in Russia, O&G plays looked mixed. Surgutneftegaz (+1.79%) has posted healthy gains for the third session in a row. The oil producers stocks are in demand on the back of rumors about the massive buying of its securities. Other oil and gas issuers performed as follows on MICEX: Gazprom tumbled 0.67%, Lukoil lost 0.54%, Tatneft jumped 0.87%, Rosneft dropped 0.94% and Gazprom Neft added on 1.47%. Norilsk Nickel achieved a 1.81% gain on MICEX, as the market positively reacted to the news that the metals major managed to collect 97.7% of LionOre stocks. This will enable Norilsk Nickel to launch forced stock buyout procedures. In addition, nickel contracts advanced throughout the session. Other liquid stories ended the day as follows on MICEX: Sberbank eased 0.55%, UES declined 0.93%, MTS slipped 0.44% and Rostelecom inched down 0.04%.Turnover fell to $6,338.15 mln on MICEX and jumped to $61.80 mln on benchmark RTS.
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[Source: Russian Stock Market Blog]
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