In early market updates, blue chips kicked off to the downside, recouping losses in the first hour of trading.

On Monday, blue chips opened lower, but recovered losses in the first hour of trading. As of 12:00 noon Moscow time Rostelecom (+2.3%) and MTS (+2.1%) led the advancers, while Gazprom Neft (-0.1%) and Mosenergo (flat) underperformed the market. The RTS Index is hovering around 2,265 or flat against Friday’s close.

Sergey Belov, Asset Manager, Finam Investment Company