OREANDA-NEWS. Over the week of June 3-7, 2013 the Moscow Exchange MICEX Index reflected the negative trend on the Russian stock market. The MICEX Index was down 0.46% to 1,343.90 (1,350.17 as of May 31, 2013) and the dollar-denominated RTS Index fell by 1.28% to 1,314.41 (1,331.43 as of May 31, 2013).

The US dollar appreciated by 1.74% against the ruble last week.

The stock market volatility increased last week with the Russian Volatility Index rising by 0.44% to 25.31 (25.20 as of May 31, 2013).

Last week part of the key economic sectors represented on the Russian stock market behaved negatively. The largest downturn was reported by the electric utilities with the relevant sector index falling by 3.67%. A significant decrease was also shown by the metals and mining and the industrials with the relevant sector indices being down 3.40% and 1.52% respectively. The largest upturn was reported by the financials (+1.71%).

The MICEX Innovation Index gained 3.52% to 427.57 (413.02 as of May 31, 2013).

The Blue-Chip Index decreased by 0.33% to 9,118.20 (9,148.54 as of May 31, 2013).

The Second-Tier Index depreciated by 1.08% to 2,994.19 (3,027.00 as of May 31, 2013). The Broad Market Index lost 0.41% to 952.39 (956.34 as of May 31, 2013).

MICEX & RTS Indices, the main indices of the Moscow Exchange

Over the week of June 3-7, 2013 the Moscow Exchange MICEX Index reflected the negative trend on the Russian stock market. The MICEX Index was down 0.46% to 1,343.90 (1,350.17 as of May 31, 2013) and the dollar-denominated RTS Index fell by 1.28% to 1,314.41 (1,331.43 as of May 31, 2013).

At the end of the week the MICEX Index was 6.03% lower than a month ago (1,430.18 as of May 7, 2013) and 0.57% higher than a year ago (1,336.33 as of June 7, 2012). The RTS Index was 9.47% lower than a month ago (1,451.84 as of May 7, 2013) and 0.80% higher than a year ago (1,303.96 as of June 7, 2012).

Last week's decrease of the RTS Index was accompanied by the increase of volatility levels, when the Russian Volatility Index RTSVX was up 0.44%.

The most negative impact on the MICEX Index was mainly due to the falling prices for ordinary shares of JSC "GAZPROM" (-0.74%), JSC "NOVATEK" (-0.16%) and OJSC "Magnit" (-0.12%).

Trading volume of securities included into the Moscow Exchange Indices' list of constituents amounted to RUB 155.68 billion, and the market capitalization of the Indices' constituents amounted to RUB 18,321.39 billion.

At the end of the week, 27 constituents of the MICEX Index list were pushing the Index down (-1.52%), while 23 securities behaved positively (+1.06%).

On the sector level, the major negative impact was made by the oil & gas (-0.16%) and the electric utilities (-0.15%).

The oil & gas sector accounted for 51.21% of the MICEX Index total capitalization. The other large-weight sectors were the finance (20.07%) and the metals & mining (8.23%).

Blue Chip Index

For the week of June 3 -7, 2013 the Blue Chip Index showed a negative trend.

The Blue Chip Index was down 0.33% to 9,118.20 (9,148.54 as of May 31, 2013). At the end of the week the Blue-Chip Index was 5.10% lower than a month ago (9,608.57 as of May 7, 2013) and 0.76% lower than a year ago (9,188.21 as of June 7, 2012).

At the end of the week, 9 out of 15 securities included into the Index were pushing the Blue- Chip Index down (-1.47%), while four shares behaved positively (+1.14%).

The most negative impact on the Blue Chip Index was mainly due to the falling prices for ordinary shares of JSC "GAZPROM" (-0.95%) and JSC "NOVATEK" (-0.20%).

The most positive impact was due to the rising prices for ordinary shares of OAO "LUKOIL" (+0.41%) and preferred shares of JSC "Transneft (+0.33%).

The oil & gas sector accounted for 56.67% of the Blue-Chip Index total capitalization. The other large-weight sectors were the finance (23.85%) and the metals & mining (6.92%).

Broad Market and Second- Tier Indices

For the week of June 3 -7, 2013 the Second-Tier Index depreciated by 1.08% to 2,994.19 (3,027.00 as of May 31, 2013). The Broad Market Index lost 0.41% to 952.39 (956.34 as of May 31, 2013).

At the end of the week the Second-Tier Index was 3.71% lower than a month ago (3,109.59 as of May 7, 2013) and 5.30% lower than a year ago (3,161.85 as of June 7, 2012).

The Broad Market Index was 6.00% lower than a month ago (1,013.20 as May 7, 2012) and 0.25% higher than a year ago (950.00 as of June 7, 2012).

At the end of the week, 36 securities included into the Second-Tier Index constituent list were pushing the Index down (-2.26%), while 12 securities behaved positively (+1.18%). The price of one constituent stock remained unchanged.

The most negative impact on the Second-Tier Index was due to the falling prices of JSC "Quadra - Power Generation" (-0.31%) and OJSC "GAZ" (-0.22%).

The most negative impact on the Broad Market Index was mainly due to the falling prices for ordinary shares of JSC "GAZPROM" (-0.74%) and JSC "NOVATEK" (-0.13%).

The most negative impact on the Second-Tier Index was mainly due to the falling prices for securities of the electric utilities (-0.67%) and the chemicals (-0.43%).

The sector accounted for 39.25% of the Second-Tier Index total capitalization. The other large-weight sectors were the consumer goods & retail (12.55%) and the chemicals (11.88%).

Debt Market

The Russian Government Bond Index (RGBI, total return) was down 1.12% to 134.63 last week (136.15 points as of May 31, 2013). The yield to maturity of the securities being the part of the calculation formula was up 19 basis points to 7.19%.

The Municipal Bond Index (MICEX MBI TR, total return) showed the positive trend and reached 173.24 basis points (173.03 as of May 31, 2013).

The total return value of the MICEX Corporate Bond Index (MICEX CBI TR) was up 0.06% to 233.46 points.

The conservative investment strategy tracking the last week's pension index could have resulted in a gain of 0.08% per week. The aggressive investment strategy based on the pension index could have brought a loss of 0.97% per week.

The bond overnight repo rate was down 14 basis points (from 6.19% to 6.05%). The equity overnight repo rate was down 12 basis points and equaled 6.12%.

Index Derivatives

For the week of June 3 - 7, 2013 the total trading volume in index futures and options on the Moscow Exchange Derivatives Market equaled RUB 790.90 billion or 9.41 million contracts.

Last week's trading volume for the most liquid contract on FORTS, futures contract on the RTS Index, amounted to RUB 674.17 billion or 8.06 million contracts.

The RTS Index futures contract traded in backwardation last week. By the end of the week the RTS Index lost 1.28%, while the June and the September futures contracts down 1.29% and 1.82% respectively.

The total investor's open interest measured in RTS Index futures increased by 25.58%.

During the week the trading volume in futures contract on the MICEX Index was RUB 5.37 billion or 40.37 thousand contracts. Open interest in the MICEX Index futures increased by 16.08%.

Trading volume in options on RTS Index futures totaled RUB 110.54 billion or 1.30 million contracts last week. Open interest of RUB 157.34 billion or 1.77 million contracts was fixed. Put options made up 38.43% of the total open interest for these contracts. The 145.000 strike calls and 135.000 strike puts had the highest open interest.

The total investors' open interest measured in options on the RTS index futures increased by 15.12%.