OAO Mosenergo, the electricity generator serving Moscow, climbed the most in the 30-stock Micex Index after Troika Dialog forecasts a smaller drop in power output at the generation company than for other companies.
“We currently expect Mosnergo’s electricity output to decline 3 percent year-on-year in 2009 versus a 6.7 percent anticipated drop for Russia as a whole,” Troika Dialog analysts Alexander Kotikov and Igor Vasilyev wrote in a note today.
Mosenergo surged 29 percent to 1.536 rubles at 5:11 p.m. on the Micex Stock Exchange after jumping 20 percent on April 10.
The Moscow-based brokerage also said the Energy Ministry’s moves to “ease the burden of capex over the next few years” will benefit shares of Russian generation companies.
OAO TGK-1, a regional generator controlled by OAO Gazprom, jumped 31 percent to 0.55 kopeks, heading for its biggest advance in six months. The Micex Power Index advanced 6.6 percent, compared with a decline of 0.4 percent for the principal Micex Index.
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