Norilsk, Polyus Gold, Rosneft May Be Active: Russian Equity Market Preview

The following companies may be active in Russian trading in Moscow. Stock symbols are in parentheses and share prices are from the previous close of trading.

Russia’s 30-stock Micex Index dropped 0.7 percent to 1,398.70. The dollar-denominated RTS Index fell 1.1 percent to 1,453.47.

OAO GMK Norilsk Nickel (GMKN RX): Copper for delivery in three months fell as much as 2.8 percent, and last traded at $7,585 a metric ton on the London Metal Exchange, after German factory orders fell the most since February 2009, indicating the recovery in Europe’s largest economy is losing momentum. The country’s biggest mining company slid 0.7 percent to 5,180.83 rubles, its weakest close since Aug. 26.

OAO Polyus Gold (PLZL RX): The company plans to double its processing capacity to 28.9 million tons of ore a year by 2015, Interfax said, citing Yuri Chertkov, the head of the gold mining company’s Lenskaya Zolotorudnaya unit in Irkutsk. Gold futures approached a record high as a slump in equities spurred demand for the precious metal as an alternative investment. OAO Polyus fell 1 percent to 1,416.94 rubles.

OAO Rosneft (ROSN RX): Crude oil fell the most in a week as the euro tumbled against the dollar on speculation that Europe’s debt crisis may worsen. Crude for October delivery dropped as much as 2.6 percent to $72.63 a barrel in New York. Shares in Russia’s largest oil company dropped 1.7 percent to 199.07 rubles.

To contact the reporter on this story: Ilya Arkhipov at iarkhipov@bloomberg.net

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