MOSCOW (Thomson Financial) - Shares moved into positive territory in
afternoon trade thanks to a strong opening on Wall Street, with Uralkali,
Severstal and banking shares higher.
At 5.12 pm, the RTS index was up 12.96 points, or 0.66 pct, at 1,977.61. The
ruble-denominated MICEX-index rose 12.61 points, or 0.80 pct, at 1,589.08.
Uralkali rose 0.15 usd, or 2.04 pct, at 7.50 after RBC Capital Markets
upgraded Canadian rival Potash Corp of Saskatchewan on higher global potash
prices.
Severstal climbed 0.45 usd, or 23.50 as investors continued to cheer the
steelmaker's Friday announcement that it would acquire a US steel mill from
rival ArcelorMittal for 810 mln usd.
Troika Dialog analysts referred to the price as "amazingly low".
Banking shares gained on a report that JP Morgan Chase & Co is in talks to
raise its offer for troubled Bear Stearns to 10 usd per share from the
originally announced 2 usd per share.
Sberbank rose 0.07 usd at 3.17, while VTB Bank gained 0.0001 usd at 0.00355.
Among decliners, Aeroflot lost 0.07 usd, or 1.76 pct, at 3.90 after Russia's
United Aircraft Corporation (UAC) said delivery of the first Sukhoi Superjet 100
(SSJ) aircraft could be delayed, as the company continues to run tests on the
first Russian-made civilian aircraft of the post-Soviet era.
Aeroflot was scheduled to receive the first planes, which are priced at
about 25 mln usd.
Fixed-line telcos also dipped, with Rostelecom off 0.15 usd at 11.60 and
Uralsvyazinform down 0.0003 at 0.055.
alfred.kueppers@thomson.com
amk/cmr
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