OREANDA-NEWS. Over the week of June 10-14, 2013 the Moscow Exchange MICEX Index reflected the negative trend on the Russian stock market. The MICEX Index was down 3.30% to 1,299.61 (1,343.90 as of June 7, 2013) and the dollar-denominated RTS Index fell by 1.56% to 1.293.88 (1,314.41 as of June 7, 2013).

The US dollar appreciated by 0.65% against the ruble last week.

The stock market volatility increased last week with the Russian Volatility Index rising by 20.74% to 30.56 (25.31 as of June 7, 2013).

Last week most of the key economic sectors represented on the Russian stock market behaved negatively. The largest downturn was reported by the industrials and the metals and mining with the relevant sector indices falling by 3.64%. A significant decrease was also shown by the financials with the relevant sector index being down 3.46%.

The MICEX Innovation Index gained 0.14% to 428.15 (427.57 as of June 7, 2013).

The Blue-Chip Index decreased by 3.63% to 8,787.42 (9,118.20 as of June 7, 2013).

The Second-Tier Index depreciated by 1.35% to 2.953.88 (2,994.19 as of May 31, 2013). The Broad Market Index lost 3.31% to 920.90 (952.39 as of June 7, 2013).

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

Over the week of June 10-14, 2013 the Moscow Exchange MICEX Index reflected the negative trend on the Russian stock market. The MICEX Index was down 3.30% to 1,299.61 (1,343.90 as of June 7, 2013) and the dollar-denominated RTS Index fell by 1.56% to 1,293.88 (1,314.41 as of June 7, 2013).

At the end of the week the MICEX Index was 7.55% lower than a month ago (1,405.76 as of May 14, 2013) and 3.45% lower than a year ago (1,346.04 as of June 14, 2012). The RTS Index was 8.41% lower than a month ago (1,412.69 as of May 14, 2013) and 0.78% lower than a year ago (1,304.07 as of June 14, 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 20.74%.

The most negative impact on the MICEX Index was mainly due to the falling prices for ordinary shares of JSC "GAZPROM" (-0.90%), Sberbank (-0.82%) and OAO "LUKOIL" (-0.48%).

Trading volume of securities included into the Moscow Exchange Indices' list of constituents amounted to RUB 122.78 billion, and the market capitalization of the Indices' constituents amounted to RUB 17,760.22 billion.

At the end of the week, 42 constituents of the MICEX Index list were pushing the Index down (-3.48%), while 8 securities behaved positively (+0.18%).

On the sector level, the major negative impact was made by the oil & gas (-1.74%) and the financials (-0.91%).

The oil & gas sector accounted for 51.16% of the MICEX Index total capitalization. The other large-weight sectors were the finance (19.82%) and the metals & mining (8.25%).

Blue Chip Index

For the week of June 10 -14, 2013 the Blue Chip Index showed a negative trend.

The Blue Chip Index was down 3.63% to 8,787.42 (9,118.20 as of June 7, 2013). At the end of the week the Blue Chip Index was 7.89% lower than a month ago (9,540.29 as of May 14, 2013) and 4.82% lower than a year ago (9,232.87 as of June 14, 2012).

At the end of the week, 12 out of 15 securities included into the Index were pushing the Blue Chip Index down (-3.74%), while three shares behaved positively (+0.11%).

The most negative impact on the Blue Chip Index was mainly due to the falling prices for ordinary shares of JSC "GAZPROM" (-1.15%) and Sberbank (-1.05%).

The most positive impact was due to the rising prices for ordinary shares of JSC "NOVATEK" (+0.10%) and JSC VTB Bank (+0.01%).

The oil & gas sector accounted for 56.81% of the Blue Chip Index total capitalization. The other large-weight sectors were the finance (23.61%) and the metals & mining (6.98%).

Broad Market and Second-Tier Indices

For the week of June 10 -14, 2013 the Second-Tier Index depreciated by 1.35% to 2,953.88 (2,994.19 as of May 31, 2013). The Broad Market Index lost 3.31% to 920.90 (952.39 as of June 7, 2013).

At the end of the week the Second-Tier Index was 3.50% lower than a month ago (3,061.14 as of May 14, 2013) and 6.86% lower than a year ago (3,171.28 as of June 14, 2012).

The Broad Market Index was 7.53% lower than a month ago (995.84 as May 14, 2012) and 3.74% lower than a year ago (956.66 as of June 14, 2012).

At the end of the week, 28 securities included into the Second-Tier Index constituent list were pushing the Index down (-2.75%), while 18 securities behaved positively (+1.40%). The price of three constituent stocks remained unchanged.

The most negative impact on the Second-Tier Index was due to the falling prices of JSC Irkutskenergo (-0.37%) and V.Bank (-0.35%).

The most negative impact on the Broad Market Index was mainly due to the falling prices for ordinary shares of JSC "GAZPROM" (-0.90%) and Sberbank (-0.82%).

The most negative impact on the Second-Tier Index was mainly due to the falling prices for securities of the finance (-0.57%) and the electric utilities (-0.28%).

The sector accounted for 39.50% of the Second-Tier Index total capitalization. The other large-weight sectors were the consumer goods & retail (12.58%) and the chemicals (12.11%).

Debt Market

The Russian Government Bond Index (RGBI, total return) was up 0.70% to 135.57 last week (134.63 points as of June 07, 2013). The yield to maturity of the securities being the part of the calculation formula was down 11 basis point to 7.19%.

The Municipal Bond Index (MICEX MBI TR, total return) showed the negative trend and reached 172.95 basis points (173.24 as of June 07, 2013).

The total return value of the MICEX Corporate Bond Index (MICEX CBI TR) was down 0.16% to 233.08 points.

The conservative investment strategy tracking the last week's pension index could have resulted in a loss of 0.09% per week. The aggressive investment strategy based on the pension index could have brought a loss of 0.70% per week.

The bond overnight repo rate was down 2 basis points (from 6.05% to 6.03%). The equity overnight repo rate was down 2 basis points and equaled 6.10%.

Index Derivatives

For the week of June 10 - 14, 2013 the total trading volume in index futures and options on the Moscow Exchange Derivatives Market equaled RUB 711.21 billion or 8.69 million contracts.

Last week's trading volume for the most liquid contract on FORTS, futures contract on the RTS Index, amounted to RUB 611.82 billion or 7.51 million contracts.

The RTS Index futures contract traded in backwardation last week. By the end of the week the RTS Index lost 1.56%, while the June and the September futures contracts down 0.80% and

1.65% respectively.

The total investor's open interest measured in RTS Index futures increased by 4.55%.

During the week the trading volume in futures contract on the MICEX Index was RUB 4.58 billion or 35.19 thousand contracts. Open interest in the MICEX Index futures decreased by 27.54%.

Trading volume in options on RTS Index futures totaled RUB 94.23 billion or 1.14 million contracts last week. Open interest of RUB 170.66 billion or 1.98 million contracts was fixed. Put options made up 37.31% 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 11.63%.