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Russia's new investment index inched 1.15% higher at Wednesday's close to 610.01 points
Russia's new investment index inched 1.15% higher at Wednesday's close to 610.01 points. The Russian Industrial Leaders Index, with an initial basis of 500 points, is calculated in U.S. dollars as of January 1, 2006, and has been available for all global trading systems since February 1 this year. The RUXX Index was commenced by Press Release Group, a New York-based communications company, and Russian News and Information Agency RIA Novosti. The RUXX Index is calculated and disseminated by Dow Jones & Company. In February, the RUXX index went up 4.4%. Analysts say the RUXX benchmark could hit 700 points in the first quarter of 2006, given the absence of negative news from the companies included in its calculation. The index includes 12 Russian companies listed abroad: Tatneft, MTS, Rostelecom, VimpelCom, Wimm-Bill-Dann, Mechel, Gazprom, LUKoil, Novatek, AFK Sistema, Golden Telecom and Rambler Media Group. RUXX is a composite economic index of Russian companies with financial instruments (shares and depository receipts) placed on major world trading floors like the New York Stock Exchange, the London Stock Exchange, Nasdaq and AMEX. 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 the 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. New York time by the Dow Jones ITC 2.1 data feed system and the Chicago Board of Trade.
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