OREANDA-NEWS. Over the week of May 13 - 17, 2013 the Moscow Exchange MICEX Index reflected the negative trend on the Russian stock market. The MICEX Index was down 1.71% to 1,401.79 (1,426.25 as of May 10, 2013) and the dollar-denominated RTS Index fell by 1.71% to 1,405.34 (1,429.78 as of May 10, 2013).

The US dollar appreciated by 1.07% against the ruble last week.

The stock market volatility increased last week with the Russian Volatility Index rising by 2.27% to 20.76 (20.30 as of May 10, 2013).

Last week most of the key economic sectors represented on the Russian stock market behaved negatively. The largest downturn was reported by the metals and mining with the relevant sector index falling by 5.36%. A significant decrease was also shown by the financials and the oil & gas with the relevant sector indices being down 2.24% and 1.94% respectively. The largest upturn was reported by the consumer goods and retail (+2.06%).

The MICEX Innovation Index lost 0.66% to 406.70 (409.39 as of May 10, 2013).

The RTS Standard Index, the blue chip index, decreased by 1.82% to 9,480.07 (9,656.19 as of May 10, 2013).

Second-tier stocks indices experienced the negative trend. The ruble-denominated MICEX SC Index depreciated by 0.14% to 3,073.43 (3,077.87 as of May 10, 2013). The dollar-denominated RTS-2 Index lost 2.48% to 1,291.21 (1,324.07 as of May 10, 2013).

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

Over the week of May 13 - 17, 2013 the Moscow Exchange MICEX Index reflected the negative trend on the Russian stock market. The MICEX Index was down 1.71% to 1,401.79 (1,426.25 as of May 10, 2013) and the dollar-denominated RTS Index fell by 1.71% to 1,405.34 (1,429.78 as of May 10, 2013).

At the end of the week the MICEX Index was 4.93% higher than a month ago (1,335.89 as of April 17, 2013) and 8.85% higher than a year ago (1,287.79 as of May 17, 2012). The RTS Index was 5.83% higher than a month ago (1,327.92 as of April 17, 2013) and 7.00% higher than a year ago (1,313.43 as of May 1 7, 201 2).

Last week's decrease of the RTS Index was accompanied by the increase of volatility levels, when the Russian Volatility Index RTSVX was up 2.27%.

The most negative impact on the MICEX Index was mainly due to the falling prices for ordinary shares of GAZPROM (-0.84%), Bank VTB (-0.26%) and MMC NORILSK NICKEL (-0.24%).

Trading volume of securities included into the Moscow Exchange Indices' list of constituents amounted to RUB 119.95 billion, and the market capitalization of the Indices' constituents amounted to RUB 19,078.15 billion.

At the end of the week, 26 constituents of the MICEX Index list were pushing the Index down (-2.26%), while 22 securities behaved positively (+0.55%). The price of two constituent stocks remained unchanged.

On the sector level, the major negative impact was made by the oil & gas (-1.27%) and the metals & mining (-0.46%).

The oil & gas sector accounted for 51.30% of the MICEX Index total capitalization. The other large-weight sectors were the finance (19.65%) and the metals & mining (7.65%).

Blue Chip Index

For the week of May 13 -17, 2013 the ruble- denominated RTS Standard Index, the blue-chip Index, showed a negative trend.

The RTS Standard Index was down 1.82% to 9,480.07 (9,656.19 as of May 10, 2013). At the end of the week the RTS Standard Index was 3.60% higher than a month ago (9,150.46 as of April 17, 2013) and 6.81% higher than a year ago (8,875.94 as of May 17, 2012).

At the end of the week, 9 out of 15 securities included into the index were pushing the RTS Standard Index down (-2.19%), while three share behaved positively (+0.37%). The price of three constituent stocks remained unchanged.

The most negative impact on the RTS Standard Index was mainly due to the falling prices for ordinary shares of GAZPROM (-0.90%) and Bank VTB (-0.33%).

The most positive impact was due to the rising prices for ordinary shares of Sberbank (+0.31%) and Uralkali (0.04%).

The oil & gas sector accounted for 56.59% of the blue chips index total capitalization. The other large- weight sectors were the finance (23.92%) and the metals & mining (6.75%).

Second- Tier Stocks Indices

For the week of May 13 -17, 2013 Second-tier stocks indices experienced the negative trend. The ruble-denominated MICEX SC Index depreciated by 0.14% to 3,073.43 (3,077.87 as of May 10, 2013). The dollar-denominated RTS-2 Index lost 2.48% to 1,291.21 (1,324.07 as of May 10, 2013).

At the end of the week the MICEX SC Index was 5.09% higher than a month ago (2,924.53 as of April 17, 2013) and 3.75% lower than a year ago (3,193.10 as of May 17, 2012).

The RTS-2 Index was 3.84% higher than a month ago (1,243.43 as April 17, 2012) and 12.61% lower than a year ago (1,477.47 as of May 17, 2012).

At the end of the week, 31 securities included into the RTS-2 Index constituent list were pushing the Index down (-3.42%), while 12 securities behaved positively (-0.94%). The prices of six constituent stocks remained unchanged.

The most negative impact was due to the falling prices of Enel OGK-5 (-0.39%) and GAZ (-0.38%).

The most positive impact on the RTS-2 Index was mainly due to the rising prices for ordinary shares of IDGC of Urals (+0.28%) and Synergy (+0.20%).

The most negative impact on the second-tier indices was mainly due to the falling prices for securities of the electric utilities (-0.97%) and the industrials (-0.68%).

The electric utilities sector accounted for 37.73% of the RTS-2 Index total capitalization. The other large- weight sectors were the consumer goods & retail (12.05%) and the chemicals (12.01%).

Debt Market

The Russian Government Bond Index (RGBI, total return) was down 0.61% to 140.60 last week (141.47 points as of May 10, 2013). The yield to maturity of the securities being the part of the calculation formula was down 6 basis point to 6.48%.

The Municipal Bond Index (MICEX MBI TR, total return) showed the positive trend and reached 172.49 basis points (172.02 as of May 10, 2013).

The total return value of the MICEX Corporate Bond Index (MICEX CBI TR) was up 0.09% to 232.95 points.

The conservative investment strategy tracking the last week's pension index could have resulted in a gain of 0.15% per week. The aggressive investment strategy based on the pension index could have brought a loss of 1.04% per week.

The bond overnight repo rate was up 3 basis points (from 6.23% to 6.26%). The equity overnight repo rate was up 30 basis points and equaled 6.26%.

For the week of May 13-17, 2013 the total trading volume in index futures and options on the Moscow Exchange Derivatives Market equaled RUB 621.24 billion or 7.07 million contracts.

Last week's trading volume for the most liquid contract on FORTS, futures contract on the RTS Index, amounted to RUB 525.68 billion or 5.99 million contracts.

The RTS Index futures contract traded in backwardation last week. By the end of the week the RTS Index lost 1.71%, while the June and the September futures contracts up 0.06% and 0.04% respectively.

The total investor's open interest measured in RTS Index futures increased by 2.19%.

During the week the trading volume in futures contract on the MICEX Index was RUB 3.82 billion or 27.30 thousand contracts. Open interest in the MICEX Index futures decreased by 4.74%.

Trading volume in options on RTS Index futures totaled RUB 90.82 billion or 1.04 million contracts last week. Open interest of RUB 90.17 billion or 1.04 million contracts was fixed. Put options made up 44.17% 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 decreased by 35.04%.