Zee Beam News

RUXX MOSCOW, May 17 (RIA Novosti) - Russia's newest investment index, stands at 634.45 points Thursday, down 4.85% on the previous day's trading, following Wednesday evening's sessions on major world trading floors. The Russian Industrial Leaders Index (RUXX) has been calculated in U.S. dollars since January 1, 2006, and has been available for all global trading systems since February 1 this year. It has an initial base of 500 points. In April, the index went up 14 %. RUXX is a composite economic index of Russian companies with financial instruments (shares and depository receipts) placed on major world trading floors, including the New York Stock Exchange, the London Stock Exchange, Nasdaq and AMEX. The index includes 17 Russian companies listed abroad: Tatneft (NYSE, LSE), MTS (NYSE), Rostelecom (NYSE, LSE), VimpelCom (NYSE), Wimm-Bill-Dann (NYSE), Mechel (NYSE), Gazprom (LSE), LUKoil (LSE), Novatek (LSE), AFK Sistema (LSE), Golden Telecom (Nasdaq), Rambler Media Group (LSE), Norilsk Nickel (LSE, Nasdaq), Mosenergo (LSE, NYSE), Novolipetsk Steel (LSE), Unified Energy System (LSE, NYSE), and Surgutneftegas (LSE). The RUXX Index was launched by Press Release Group, a New York-based communications company, and RIA Novosti. It is calculated and disseminated by Dow Jones & Company. The index is based on companies' weight depending on their market capitalization. The higher the market capitalization, the larger the company's share in the index, with a weight cap of 20% for each company. Market capitalization and share weights in the index are changed quarterly. The index is published daily at 05.55 p.m. EST by the Dow Jones ITC 2.1 data feed system and the Chicago Board of Trade. The index was presented to foreign investors at the New York Stock Exchange on April 24. According to Cameron Brandt, senior analyst with Emerging Portfolio Fund Research, although the RUXX Index was introduced only recently, financial circles were closely watching it.