OREANDA-NEWS. Over the week of April 22-26, 2013 the Moscow Exchange Indices reflected the positive trend on the Russian stock market. The MICEX Index was up 2.51% to 1,372.04 (1,338.43 as of April 19, 2013) and the dollar-denominated RTS Index grew by 3.42% to 1,382.22 (1,336.46 as of April 19, 2013).

The US dollar depreciated by 1.26% against the ruble last week.

The stock market volatility decreased last week with the Russian Volatility Index falling by 11.86% to 20.58 (23.35 as of April 19, 2013).

Last week most of the key economic sectors represented on the Russian stock market behaved positively. The largest upturn was reported by the electric utilities with the relevant sector index rising by 6.28%. A significant increase was also shown by the telecommunications and the chemicals with the relevant sector indices being up 6.10% and 3.65% respectively.

The MICEX Innovation Index added 1.47% to 402.16 (396.34 as of April 19, 2013).

The RTS Standard Index, the blue chip index, increased by 1.53% to 9,290.47 (9,150.91 as of April 19, 2013).

Second-tier stocks indices experienced the positive trend. The ruble-denominated MICEX SC Index appreciated by 2.44% to 2,985.96 (2,914.87 as of April 19, 2013). The dollar-denominated RTS-2 Index gained 3.96% to 1,299.94 (1,250.48 as of April 19, 2013).

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

Over the week of April 22-26, 2013 the Moscow Exchange Indices reflected the positive trend on the Russian stock market. The MICEX Index was up 2.51% to 1,372.04 (1,338.43 as of April 19, 2013) and the dollar-denominated RTS Index grew by 3.42% to 1,382.22 (1,336.46 as of April 19, 2013).

At the end of the week the MICEX Index was 3.17% lower than a month ago (1,417.00 as of March 26, 2013) and 5.18% lower than a year ago (1,447.06 as of April 26, 2012). The RTS Index was 4.38% lower than a month ago (1, 445.46 as of March 26, 2013) and 12.22% lower than a year ago (1,574.61 as of April 26, 2012).

Last week's increase of the RTS Index was accompanied by the decrease of volatility levels, when the Russian Volatility Index RTSVX was down 11.86%.

The most positive impact on the MICEX Index was mainly due to the rising prices for ordinary shares of LUKOIL (+0.55%), Rostelecom (+0.36%) and GAZPROM (+0.33%).

Trading volume of securities included into the Moscow Exchange Indices' list of constituents amounted to RUB 125.55 billion, and the market capitalization of the Indices' constituents amounted to RUB 18,757.85 billion.

At the end of the week, 42 constituents of the MICEX Index list were pushing the Index up (+2.87%), while 7 securities behaved negatively (-0.36%). The price of one constituent stock remained unchanged.

On the sector level, the major positive impact was made by the oil & gas (+1.26%) and the telecommunications (+0.49%).

The oil & gas sector accounted for 51.65% of the MICEX Index total capitalization. The other large-weight sectors were the finance (18.57%) and the metals & mining (8.50%).

Blue Chip Index

For the week of April 22-26, 2013 the ruble- denominated RTS Standard Index, the blue-chip Index, showed a positive trend.

The RTS Standard Index was up 1.53% to 9,290.47 (9,150.91 as of April 19, 2013). At the end of the week the RTS Standard Index was 3.62% lower than a month ago (9,639.41 as of March 26, 2013) and 6.24% lower than a year ago (9,909.19 as of April 26, 2012).

At the end of the week, 8 out of 15 securities included into the index were pushing the RTS Standard Index up (+1.94%), while six shares behaved negatively (-0.41%). The price of one constituent stock remained unchanged.

The most positive impact on the RTS Standard Index was mainly due to the rising prices for ordinary shares of LUKOIL (+0.72%) and GAZPROM (+0.40%).

The most negative impact was due to the falling prices for ordinary shares of Uralkali (-0.17%) and Sberbank (-0.11%).

The oil & gas sector accounted for 56.85% of the blue chips index total capitalization. The other large- weight sectors were the finance (22.53%) and the metals & mining (7.55%).

Code

Security name

Weight in RTS Standard Index

Weight in MICEX Index

CHMFS

Severstal, Ordinary

1.30%

1.01%

FEESS

"FGC UES", JSC, Ordinary

0.80%

0.65%

GAZPS

GAZPROM, Ordinary

18.62%

14.55%

GMKNS

"OJSC "MMC "NORILSK NICKEL", Ordinary

6.26%

4.91%

HYDRS

JSC "RusHydro", Ordinary

1.60%

1.23%

LKOHS

OAO "LUKOIL", Ordinary

19.82%

15.47%

NVTKS

JSC "NOVATEK", Ordinary

4.70%

3.60%

ROSNS

Rosneft, Ordinary

5.70%

4.47%

RTKMS

Rostelecom, Ordinary

4.24%

3.34%

SBERS

Sberbank, Ordinary

17.90%

14.00%

SBERP

Sberbank, Pref

1.27%

1.00%

SNGSS

Surgutneftegas, Ordinary

5.25%

2.00%

TRNFPS

Transneft, Pref

2.76%

2.16%

URKAS

Uralkali, Ordinary

6.43%

5.03%

VTBRS

JSC VTB Bank, Ordinary

3.36%

2.63%

Total

100.00%

76.06%

Second- Tier Stocks Indices

For the week of April 22-26, 2013 second-tier stocks indices experienced the positive trend. The ruble-denominated MICEX SC Index appreciated by 2.44% to 2,985.96 (2,914.87 as of April 19, 2013). The dollar-denominated RTS-2 Index gained 3.96% to 1,299.94 (1,250.48 as of April 19, 2013).

At the end of the week the MICEX SC Index was 9.04% lower than a month ago (3,282.72 as of March 26, 2013) and 19.21% lower than a year ago (3,696.02 as of April 26, 2012).

The RTS-2 Index was 10.54% lower than a month ago (1,453.02 as March 26, 2012) and 29.54% lower than a year ago (1,844.93 as of April 26, 2012).

At the end of the week, 39 securities included into the RTS-2 Index constituent list were pushing the Index up (+4.71%), while 8 securities behaved negatively (-0.75%). The prices of three constituent stocks remained unchanged.

The most positive impact on the RTS-2 Index was mainly due to the rising prices for ordinary shares of TGK-1 (+0.47%) and Irkutskenergo (+0.40%).

The most negative impact was due to the falling prices of Volga TGC (-0.29%) and TGK-9 (-0.23%).

The most positive impact on the second-tier indices was mainly due to the rising prices for securities of the chemicals (+0.96%) and the electric utilities (+0.77%).

The electric utilities sector accounted for 37.22% of the RTS-2 Index total capitalization. The other large- weight sectors were the industrials (12.14%) and the consumer goods & retail (12.08%).

Debt Market

The Russian Government Bond Index (RGBI, total return) was up 0.68% to 140.70 last week (139.75 points as of April 19, 2013). The yield to maturity of the securities being the part of the calculation formula was down 10 basis point to 6.43%.

The Municipal Bond Index (MICEX MBI TR, total return) showed the positive trend and reached 171.49 basis points (171.12 as of April 19, 2013).

The total return value of the MICEX Corporate Bond Index (MICEX CBI TR) was up 0.19% to 231.82 points.

The conservative investment strategy tracking the last week's pension index could have resulted in a gain of 0.17% per week. The aggressive investment strategy based on the pension index could have brought a profit of 1.44% per week.

The bond overnight repo rate was up 23 basis points (from 6.12% to 6.35%). The equity overnight repo rate was up 19 basis points and equaled 6.27%.

Index Derivatives

For the week of April 22-26, 2013 the total trading volume in index futures and options on the Moscow Exchange Derivatives Market equaled RUB 697.06 billion or 8.38 million contracts.

Last week's trading volume for the most liquid contract on FORTS, futures contract on the RTS Index, amounted to RUB 620.20 billion or 7.47 million contracts.

The RTS Index futures contract traded in backwardation last week. By the end of the week the RTS Index gained 3.42%, while the June and the September futures contracts up 3.28% and 3.40% respectively.

The total investor's open interest measured in RTS Index futures increased by 16.93%.

During the week the trading volume in futures contract on the MICEX Index was RUB 5.04 billion or 37.87 thousand contracts. Open interest in the MICEX Index futures decreased by 22.99%.

Trading volume in options on RTS Index futures totaled RUB 71.68 billion or 867.94 thousand contracts last week. Open interest of RUB 113.98 billion or 1.35 million contracts was fixed. Put options made up 44.87% 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 14.91%.