26 May 2004 01:59
Russian stock market upbeat over Putin`s message to Federal Assembly
MOSCOW. May 26 (Interfax) - The Russian stock market reacted positively to President Vladimir Putin's message to
the Federal Assembly, and weak quotation fluctuation posted during Putin's nationwide address in the morning was
replaced with price growth across the board.
By 12:30 p.m. Moscow time, blue chip stocks were up 0.6%-3.6% on the Russian Trading System in average trading.
thinks doubling GDP not in ten years, but by 2010, is realistic) and
intentions for an easy tax system for business. Putin also gave the
government two years to create conditions for complete ruble
By 12:30 p.m., stock in Unified Energy System of Russia (UES) was
up 0.7%, MMC Norilsk Nickel 2.2%, Mosenergo 1.2%, Lukoil 1.1%,
The main points in the president's address that gave the market a boost were his announcements of economic
stability, GDP growth (Putin
Aggregate trading on the classic RTS stock market had reached
$5.845 million by that time, of which roughly $3 million involved
convertibility and to ensure 3% annual inflation.
It was mainly domestic market operators trying to push market quotations up, prompted not only by the
president's speech, but also by the favorable state of affairs on world stock markets.
Rostelecom 0.7%, Sberbank of Russia 0.7%, Sibneft 3.6%, Surgutneftegas 1.2%, Tatneft 0.8% and Yukos 0.6%.
direct-bid trading; while turnover on the MICEX stock section stood at 4.3 billion rubles.
Gazprom stock gained ground Wednesday morning, and were going for 56.0 rubles per share (up 0.5%) on the St.
Petersburg Stock Exchange by 12:30 p.m., 4.6 million shares having traded hands.
The composite ruble index S&P/RUX was up 0.29% at 754.23 points, the dollar index 0.34% at 155.13 points. The RTS
index gained 0.03% to 619.24 points and the MICEX stock index 1.33% to 566.49 points. [RU EUROPE EEU ASIA EMRG STX MET
ENR ELG TEL E BNK INSI POL ECI] cf
[Interfax] |
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