Install

Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Two Firms Break Into MT Top 50

The energy giant Samaraenergo and river shipping company Volga-Tanker joined the Moscow Times Index of 50 leading issues Monday, replacing Aviastar and Mosbusinessbank.


The MT Index Advisory Board met last week to approve the latest updates to the market gauge, which has become the most widely used benchmark for Russian stocks since its inception in September 1994. The panel of brokers and experts bases changes on a range of investment criteria, including liquidity, transparency and market weight.


Aviastar, the struggling Ulyanovsk-based aircraft manufacturing plant, will be delisted because of its low market capitalization, according to Anton Lobanov of Skate, the financial information agency that compiles the index.


Mosbusinessbank, a Moscow commercial bank ranked seventh in the country by assets, will be delisted because of "poor investibility of its shares, lack of daily multiple quotes for Mosbusinessbank shares anywhere on the Russian secondary market and its poor transparency," Skate said.


Samaraenergo, a Samara-based utility, will be included in the index as the 23rd-largest Russian public company in terms of market capitalization and a stock that represents growing interest in regional utility companies. Volga-Tanker, a shipping company based in Samara, will be included because of significant levels of investor interest and good prospects for price appreciation.


The advisory board also confirmed earlier decisions to exclude Gazprom from the index, despite its immense size and importance, because the gas monopoly still "does not have an up-and-running secondary market for its shares."