RTS Index Weekly Wrap Up

Transcription

1 The RTS Index For the week of April 11-15, 2011 the Russian stock market showed a decline of prices. The RTS Index (RTSI) went down to 2, points (4.39%) from 2, points as of April 8, At the end of the week the RTS Index was 6.48% higher than a month ago (1, points as of March 15, 2011) and 21.12% higher than a year ago (1, points as of April 15, 2010). Decline in prices on the stock market was accompanied by a decrease of volatility levels when the Russian Volatility Index RTSVX went down by 0.41%. Over the week the US dollar lost 0.14% against the Russian ruble. Out of 50 RTSI constituents 34 were pulling the Index down (down points overall), whereas six securities had a positive impact (plus 2.08 points in total). The price for 10 securities remained unchanged. The negative effect leaders were ordinary shares of Gasprom (down points), OAO LUKOIL (down points) and Sberbank (down The positive impact was mainly related to the growing prices for ordinary shares of "OJSC "MMC "NORILSK NICKEL" (plus 1.18 Over 50.04% of the RTSI total capitalization was concentrated in the oil and gas sector. The other large-weight sectors were finance (20.30%) and metallurgy (14.74%). On the sector level the major negative contributor was the oil & gas sector (down points) and finance (down

2 RTSI Futures Contracts For the week of April 11-15, 2011 the trading volume in the RTSI derivatives amounted to 803,44 billion rubles or 7,10 million contracts. The turnover of futures contracts on the RTS Index made up 66,68% of the total FORTS turnover (Futures and Options on RTS) in cash terms. With the RTSI losing 4.39%, June contracts and September contracts shed 4.73% and 4.43% respectively. During the reviewed period RTSI linked futures were trading below the spot. By the end of the week June contracts were points in backwardation, while for September contracts backwardation stood at points. For the week investor s open interest measured in contracts decreased by 10.10%. 2

3 The RTS Standard Index For the week of April 11-15, 2011 the RTS Standard Index experienced negative movement of prices. The RTS Standard Index went down by 4.38% to 12, points (12, points as of April 8, 2011). At the end of the week the RTS Standard Index was 4.70% higher than a month ago (11, points as of March 15, 2011) and 15.86% higher than a year ago (10, points as of April 15, 2010). Out of 15 constituents fourteen had a negative impact on the RTS Standard Index (down points overall). One security moved positively (plus The most negative impact was mainly due to the falling prices for ordinary shares of Gazprom (down points) and OAO LUKOIL (down The positive impact was mainly due to the growing prices for preferred shares of "OJSC "MMC "NORILSK NICKEL" (plus Out of the blue chips the top fallers were ordinary shares of OJSC Uralkali that lost 7.42% followed by ordinary shares of ОАО Severstal that went down by 7.00% and Rosneft that shed 6.88%. The oil & gas sector accounted for 54.09% of the RTS Standard Index total capitalization. The other large-weight sectors were finance (24.69%) and metallurgy (13.07%). Ticker Stock Weight in the RTS Standard Index, % Weight in the RTS Index, % GAZPS Gazprom, ordinary 20.45% 16.15% SBERS Sberbank, ordinary 18.16% 14.35% SBERPS Sberbank preferred 1.45% 1.14% LKOHS LUKOIL, ordinary 17.05% 13.47% GMKNS NORILSK NICKEL, ordinary 10.49% 8.29% ROSNS Rosneft, ordinary 8.02% 6.34% SNGSS Surgutneftegas, ordinary 5.38% 4.25% SNGSPS Surgutneftegas, preferred 1.80% 1.43% VTBRS VTB Bank,ordinary 5.08% 4.01% URKAS Uralkali, ordinary 3.63% 2.87% HYDRS RusHydro, ordinary 2.53% 2.00% FEESS FGS UES, ordinary 1.99% 1.57% CHMFS Severstal, ordinary 1.93% 1.52% TRNFPS Transneft, ordinary 1.37% 1.09% PLZLS Polyus Gold, ordinary 0.64% 0.51% Total % 78.99% 3

4 Second-tier stocks For the week of April 11-15, 2011 the second tier stocks market demonstrated negative dynamics. Over the reviewed period the RTS-2 Index lost 1.76% to reach 2, points (2, points as of April 8, 2011). At the end of the week the RTS- 2 Index was 4.76% higher than a month ago (2, points as of March 15, 2011), and 18.75% higher than a year ago (1, points as of April 15, 2010). 33 constituents out of 58 stocks on the basis of which the RTS-2 Index is calculated had a negative impact on the RTS-2 Index (down points overall), whereas six instruments were offsetting this effect (plus 5.45 The price for 19 securities remained unchanged. The negative impact was mainly due to the falling prices for ordinary shares of JSC "OGK-4" (down 4.55 points), OAO Raspadskaya (down 4.48 points) and JSC "IDGC Holding" (down 4.41 Most of the positive effect was related to the growing prices for ordinary shares of JSC "OGK-2" (plus 2.54 points) and OJSC Concern "KALINA" (plus 1.50 In terms of weight in the RTS-2 Index, the power sector was the largest (34.4%), followed by the consumer goods & trading sector (18.2%) and metallurgy sector (16.3%). Most of the RTS-2 Index decline was due to the negative contributions by the securities of the following sectors: power (down points) followed by oil & gas (down 6.92 points) and metallurgy (down

5 RTS Siberia Index For the week of April 11-15, 2011 stocks constituting the RTS Siberia Index showed a negative movement. The RTS Siberia Index went down by 0.61% to close at points ( points as of April 8, 2011). At the end of the week the RTS Siberia Index was 3.84% higher than a month ago ( points as of March 15, 2011) and 2.90% higher than a year ago (1, points as of April 15, 2010). Out of the 10 component stocks three had a negative impact on the Index s dynamics (down Two securities moved positively (plus 5.43 The price for five securities remained unchanged. The negative impact on RTS Siberia Index was coming only from the price decline of ordinary shares of OAO Raspadskaya (down 5.99 points), JSC "RusHydro" (down 3.88 points) and PJSC Belon (down 1.63 The positive effect leaders were ordinary shares of JSC "WGC-3" (plus 3.37 points) and "OJSC "MMC "NORILSK NICKEL" (plus 2.06 points). The power sector accounted for 41.5% of the RTS Siberia Index total capitalization. The other large-weight sectors were metallurgy (37.6%) and oil & gas (15.5%). 5

6 The RTS family of indices Index Last Change over (Period), % Value Week Month Quarter Year RTS Index 2, % 6.48% 8.57% 21.12% RTS Standard Index 12, % 4.70% 2.35% 15.86% RTS-2 Index 2, % 4.76% 1.74% 18.75% RTS Metals & Mining Index % 3.62% 0.79% 27.38% RTS Oil & Gas Index % 4.50% 13.80% 18.35% RTS Consumer & Retail Index % 2.87% -1.39% 37.51% RTS Industrial Index % 1.29% 6.43% 42.11% RTS Finances Index % 4.17% -0.61% 8.79% RTS Electric Utilities Index % 5.96% -5.79% -8.25% RTS Siberia Index % 3.84% -3.33% -2.90% Russian Volatility Index % % 13.49% -3.53% For the week the RTS Index lost 4.39% to reach 2, points (2, points as of April 8, 2011), the RTS Standard Index (blue chips index) decreased by 4.38% to end up at 12, points (12, points as of April 8, 2011). Decrease on the stock market was accompanied by a decline of volatility levels when the Russian Volatility Index RTSVX went down by 0.41% to reach points (25.17 points as of April 8, 2011). Last week most of the key economy sectors represented on the Russian stock market demonstrated a negative trend. The largest decline was shown by the oil & gas sector with the RTS Oil & Gas Index fell 5.64%.The substantial downturn was also reported by the metallurgy and power industries with the RTS Metals & Mining Index and RTS Electric Utilities Index lost 3.43% and 3.14% respectively. The regional RTS Siberia Index lost 0.61%. The US dollar depreciated by 0.14% against the Russian ruble to reach rubles per US dollar (28.23 rubles as of April 8, 2011). 6

7 The RTS Index family includes the RTS Index as the main benchmark of the cash equity market, the RTS Standard Index as the blue chips index, the RTS-2 Index as the second tier stocks index and a number of sectoral and regional indices. Calculation principles RTS indices are capitalization-weighted stock indices. Their calculation formula is based on the relation of total market capitalization of constituent shares to the same value at the initial date. RTS indices are calculated during the trading session at the transaction prices and bids on RTS Classica and RTS Standard. RTS Index is a broad-based index calculated on the basis of prices of 50 liquid shares of the most highly capitalized Russian companies. This allows it to reflect precisely the entire Russian cash equity market. The Index is computed from the US dollar-denominated prices. RTS Standard Index is an indicator that tracks performance of the so called blue chips. It is calculated from rubledenominated prices and bids for 15 top liquid stocks of the Russian cash equity market. RTS-2 Index is an indicator that covers the small- and mid-cap market segment. There is no strict restriction on the number of constituent stocks. The RTS-2 Index is calculated based on US dollar-denominated stock prices. Sectoral indices reflect the movements of prices in a given sector of the economy represented in the Russian stock market. They usually include 10 to 20 liquid shares of the most highly capitalized Russian issuers belonging to this sector. RTS Siberia Index is the first regional index made up from stocks issued by companies whose main business is concentrated in Siberia. It is calculated from ruble-denominated prices of the component stocks. The authority to exert the overall control and amend the methodology for calculation of the RTS Indices is vested in the RTS Index Committee that brings together experts from major Russian brokerage firms and representatives from Standard & Poor s, the world s leader in independent financial research, ranking and indices industry. OJSC "Russian Trading System" Stock Exchange Indices and Market Data Department 4/7 Vozdvizhenka Str, Bld 1, , Moscow, Russia Phones: +7(495) , (495) , (extension 26031) Faxes: +7(495) , stat-help@rts.ru 7