Rostelecom shares rocket by 20%

A rising tendency continues on the Russian stock market. An impressing upsurge was reported in shares of the telecommunications giant Rostelecom. As of 13:20 (Moscow time) they rocketed 17 percent on the RTS exchange and 20 percent on MICEX. Analysts are unable to provide clear explanations of this rise. They believe that Rostelecom shares are being purchased as they remain rather cheap compared to other securities.

According to experts from Aton Capital, MICEX authorities decided to make a pause in trade on Rostelecom shares for an hour. According to the exchange's regulations, trading should be stopped for securities whose price jumps more than 10 percent against the opening.

Among other gainers of today's trading session are RAO UES of Russia with an upsurge of 7 percent and Tatneft that increased 5.85 percent. Analysts noted that market participants were purchasing the remaining "cheap" securities on the market. The RTS index went up 1.6 percent and it may hit new records later today.

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