MoEx Releases Russian Equity and Bond Indices
OREANDA-NEWS. In June 2014, Moscow Exchange's indices reflected the positive trend on the Russian stock market. The MICEX Index was up 3.10% to 1,476.38 (from 1,432.03 on 30 May), while the dollar-denominated RTS Index rose 5.43% to 1,366.08 (from 1, 295.75).
The dollar depreciated 2.94% against the rouble.
Volatility increased, with the Russian Volatility Index rising 18.23% to 30.09 (from 25.45).
Most key sectors made gains. The largest upturn was in Telecommunication, the sector index of which rose 6.50%. Oil and gas and Consumer goods and retail climbed a respective 6.26% and 5.74%. The loss in Financials is 1.45%
The Blue Chip Index increased 3.24% to 9,938.21 (from 9,626.25).
The Second Tier Index appreciated 1.74% to 3,033.85 (from 2,981.85). The Broad Market Index gained 3.06% to 1,043.57 (from 1,012.56).
MICEX & RTS Indices: Moscow Exchange's main indices
In June 2014, Moscow Exchange's indices reflected the positive trend on the Russian stock market. The MICEX Index was up 3.10% to 1,476.38 (from 1,432.03 on 30 May), while the dollar-denominated RTS Index rose 5.43% to 1,366.08 (from 1, 295.75).
The MICEX Index on 30 June was up 10.97% YoY (from 1,330.46). The RTS Index was up 7.11% YoY (from 1,275.44).
The RTS Index's increase last month was accompanied by an increase in volatility, with the Russian Volatility Index (RTSVX) up 18.23%.
The turnover of securities included in Moscow Exchange's indices was RUB 663.63 bin, and their market cap totalled RUB 21,251.83 bln.
Of the 50 MICEX Index constituents, 39 constituents of the new and the reviewed MICEX Index lists pulled the index up (rising a total 3.90%), while 11 incurred losses (totaling 0.80%).
On the sector level, the major positive impact was from oil and gas (up 2.80%) and telecommunication (rising 0.45%).
The largest positive impact on the MICEX Index was from prices rising for ords of JSC "GAZPROM" (up 0.78%), JSC "NOVATEK" (up 0.63%) and Rosneft (up 0.46%). The largest negative impact was from price losses by ords of JSC VTB Bank (down 0.53%) and prefs of JSC "Transneft" (off 0.13%).
The largest positive impact on the RTS Index was from prices rising for ords of JSC "GAZPROM" (up 1.14%), OAO "LUKOIL" (up 0.78%) and JSC "NOVATEK" (up 0.75%). The largest negative impact was from price losses by ords of JSC VTB Bank (down 0.46%) and prefs of JSC "Transneft" (off 0.09%).
Oil & gas accounted for 50.67% of the MICEX Index's total capitalization. The other heavily weighted sectors were financials (19.95%) and metals and mining (9.24%).
Blue Chip Index
The Blue Chip Index rose in June.
It was up 3.24% MoM to 9,938.21 (from 9,626.25), and up 10.51% YoY (from 8,993.00).
Of the seventeen securities included in the Index list, fourteen were pulling the Blue Chip Index up at the end of the month (rising a total 4.01%), while three made losses (totaling 0.77%).
The largest positive impact on the index was from prices rising for ords of JSC "GAZPROM" (up 0.91%) and JSC "NOVATEK" (up 0.74%).
The largest negative impact was from price losses by ords of JSC VTB Bank (down 0.62%) and prefs of JSC "Transneft" (off 0.15%).
The oil & gas sector accounted for 56.77% of the Blue Chip Index's total capitalization. The other large weight sectors were financials (21.99%) and consumer goods and retail (7.48%).
Broad Market and Second- Tier Indices
The Second Tier Index rose 1.74% during the month to 3,033.85 (from 2,981.85). The Broad Market Index rose 3.06% MoM to 1,043.57 (from 1,012.56).
The Second Tier Index was up 2.11% YoY (from 2,971.11). The Broad Market Index was up 10.81% YoY (from 941.75).
Of the fifty four securities included in the new and reviewed Second Tier Index lists, twenty seven were pulling the index up (with gains totaling 4.11%), while twenty seven made gains (totaling 2.37%).
The largest positive impact on the Second Tier Index was from gains by ords of OJSC "KuibyshevAzot (up 0.83%) and HALS-Development JSC (up 0.53%).
The heaviest positive impact on the Broad Market Index was from ords of JSC "GAZPROM" (up 0.79%) and JSC "NOVATEK" (up 0.60%).
The largest positive impact on the Second Tier Index was from building (up 0.80%) and transportation (up 0.35%).
Electric utilities accounted for 41.16% of the Second Tier Index's total capitalization. The other heavily weighted sectors were chemicals (14.29%) and industrials (9.60%).
Debt market
Aggregate bond index RUABITR (total return), comprised of Government. corporate and municipal bonds traded on Moscow Exchange was up 1.38%.
Russian Government Bond Index RGBITR was up 1.50% to 324.81 points. The YTM of securities included in the index 8.24%. The highest growth among government bond indices, segmented by duration. showed RUGBITR5+ that includes government bonds with duration more than 5 years. It grew up by 2.03%.
Municipal bond index MICEXMBITR was up 0.71% in June and equaled 181.89 points. The highest growth among municipal bond indices segmented by duration and credit quality showed RUMBITRBB that includes bonds with duration more than 1 year and credit rating from BB to BB+. It grew up by 1.40% in June.
The MICEX Corporate Bond Index MICEXCBITR total return value was up 1.00% to 248.02 points. The YTM of securities included in the calculation formula was 9.52%.
Among all corporate bond indices highest growth showed RUCBITRBBB3+ - 1.87%. that includes corporate bonds with credit quality from BBB- to BBB+ and duration more than 3 years.
High credit quality corporate bond index RUCBITRBBB was up 1.10%. "BB segment" bond index RUCBITRBB was up 0.86%. "B segment" bond index RUCBITRB was up 1.15%.
The highest yield to maturity (YTM) on 30.06.2014 showed RCBITRB3Y index. It was 11.92%.
The bond overnight repo rate indicator was down 1 bps (from 8.30% to 8.29%).
The equity overnight repo rate indicator was 8.19%.
A conservative pension investment strategy tracking RUPCI index could have resulted in 0.81 gain. The aggressive investment strategy could have brought a profit of 0.62%. Moderate Pension index was up 0.75%.
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