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. Last Updated: 07/27/2016

Slow Week Sinks Some Blue Chips

The Russian stock market showed little activity this week, with speculators sending some blue chips down, traders said Friday.


The ruble-based Moscow Times index lost 2.07 points to close Friday at 120.88, while the dollar-adjusted index slipped 1.06 points to 55.10. Decliners outpaced advancers 20 to 6 in the prices of the 50 index shares, with 24 companies unchanged.


"There was a little bit more demand coming from foreign investors this week, but it was purely speculative," said Alexander Lobanov, a trader with Rinaco-Plus brokerage. "Foreigners were trying to buy relatively big volumes cheaply, and this sent prices down."


Mosenergo lost the most, falling 10.32 percent from $0.23 to $0.21. Orenburgneft lost 9.68 percent, from $0.78 to $0.70, and Permneft shed 7.27 percent, from $13.75 to $12.75.


The ruble fell 10 points over the week to close at 4,835 to the dollar.