Monday, September 3, 2007

In intraday market updates, domestic plays kicked off the week with modest gains.

On Monday, Russian equities posted modest advances at the open, but no clear trend was visible during the first hour of trading. Monday is expected to be low-key, as US exchanges are closed for the Labor Day holiday. As of 12:00 noon Moscow time the list of gainers was headed up by Sberbank (+1.6%) and Surgutneftegaz (+0.9%), while the decliners were led by Tatneft (-0.6%) and AvtoVAZ (-1.2%). The RTS Index is hovering around 1,926 or 0.2% higher than Fridays close.

Sergey Belov, Asset Manager, Finam Investment Company

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[Source: Russian Stock Market Blog]

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