Wednesday, June 1, 2011

Putin's announcement brought back the growth of Russian stocks

Following a statement by Prime Minister Vladimir Putin to introduce zero export tariff on nickel and copper on the reduction of the right stock steel companies went "a plus". By 17:15 Moscow time on the MICEX stock in Norilsk Nickel rose by 1,8% compared to Tuesday, shares of Novolipetsk Steel (NLMK) - by 3,9%. Also rising in price other liquid securities on the background of the appreciated oil and rising U.S. stock futures. RTS index rose to 527.56 points (2.58% compared to Tuesday's), the MICEX index - up 584.41 points (2.56%). The prices of shares on stock exchanges amounted to 0,6-4,3%, led by securities LUKoil (4.9% on MICEX), Surgutneftegaz (4.3%), Transneft (+3, 5%), Gazprom (+2,8%).

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