On Thursday, domestic issuers kicked off to the upside across the board. Upbeat news came from overseas, as the U.S. market rallied more than 1%Wednesday. European and Asian bourses viewed this development with optimism, which sends a signal the markets seem to be calming down. However, throughout the session most liquid names slipped back into the red, moving in stride with global stock indexes. US employment data, released in the second half of the day, fell in line with market expectations. By the final bell, the MICEX Index inched up 0.07% to 1,634.06 and the RTS Index fared a bit better, rising 0.58% to 1,864.59. Crude futures posted modest gains, but most oil plays pulled back: Tatneft grew 0.57%, Surgutneftegaz lost 1.48%, Rosneft tumbled 0.5%, Lukoil shed 0.26% and Gazprom Neft eased 1.42%. Russian gas monopoly Gazprom achieved a 0.24% advance. Norilsk Nickel (+1.97%) led the MICEX advancers, riding high on surging nickel futures. Buoyant investor sentiment about liquidity coming to the markets sparked a rally in financial names: Sberbank commons added 0.72% and prefs edged up 0.67%, while VTB stocks ended 1.26% higher. UES led the decliners: the energy holdings commons and prefs slid 1.44% and 0.58%, respectively, on MICEX. Thursday was the cut-off date for UES September 26 EGM that will address the second stage of the holdings restructuring. Shareholders who buy UES stocks starting August 24 will not be eligible to attend the EGM or present shares for a buyout offer if the utility concerns reorganization is voted down. Other liquid names performed as follows: MTS was 1.09% higher and Rostelecom notched up 0.32%. Turnover increased to $61.46 mln on benchmark RTS And dropped to $7,737.2 mln on MICEX
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[Source: Russian Stock Market Blog]
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