MOSCOW, May 17 (RIA Novosti) - Russia's newest investment index will open Tuesday at 537.16 points after plummeting 10.11% during Monday trading sessions on major world floors as the market underwent a correction.
The Russian Industrial Leaders Index (RUXX) is a composite economic index of 17 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, the Nasdaq and AMEX.
The 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 with an initial base of 500 points. In April, the index went up 14 %.
The index is calculated in U.S. dollars, and weighted according companies' 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 includes 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 Surgutneftegaz (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 published daily at 5.55 p.m. EST (10.55 p.m. GMT) by the Dow Jones ITC 2.1 data feed system and the Chicago Board of Trade.