Gazprom Neft, Norilsk Nickel, Razgulay May Move: Russian Equity Preview

The following companies may have unusual price changes in Russian trading. Stock symbols are in parentheses and share prices are from the previous close.

Russia’s ruble-based Micex Index rose 1.2 percent to 1,396.92 in Moscow.

OAO Gazprom Neft (SIBN RX), OAO Novatek (NOTK RX): Gazprom Neft and Novatek formed a joint venture to develop oil and gas fields in Russia’s Yamalo-Nenets region, the companies said in separate statements today. Gazprom Neft, the oil arm of Russia’s state-natural gas producer, rose 0.3 percent to 121.94 rubles. Novatek, Russia’s second-largest gas producer, rose 1.3 percent to 220.94 rubles.

OAO GMK Norilsk Nickel (GMKN RX): Copper climbed to a 10- week high as shrinking inventories, a rally in equity markets and rising U.S. home sales signaled improving demand. Russia’s biggest producer of nickel and copper gained 0.8 percent to 5,112.67 rubles.

OAO Polyus Gold (PLZL RX): Gold fell for a second session on signs that demand for the metal as an investment haven is slowing as the euro stabilizes against the dollar. Russia’s largest gold producer fell 1.1 percent to 1,412.09 rubles.

OAO Razgulay Group (GRAZ RX): Russian food grain prices may double in 2010 from a year earlier because of a drought, the Grain Producers’ Union said in an e-mailed statement. The Russian grain and sugar producer fell 1.8 percent to 44.503 rubles.

To contact the reporter on this story: Anastasia Ustinova in Chicago at austinova@bloomberg.net.

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