Norilsk Nickel, Rosneft, Sberbank: Russian Equities Preview
The following companies may be active in Russian trading. Stock symbols are in parentheses and share prices are from the previous close of trading in Moscow.
The 30-stock Micex Index fell 1.2 percent to 1,418.67 at the close in Moscow. The dollar-denominated RTS Index rose 0.3 percent to 1,492.82.
OAO GMK Norilsk Nickel (GMKN RX): Copper fell from a five- month high in New York as traders judged prices were too high given lackluster economic growth after reports last week signaled the U.S. housing market remained depressed and unemployment may continue to stifle recovery. Norilsk, Russia’s biggest miner, fell 0.4 percent to 5,031.24 rubles.
OAO Rosneft (ROSN RX): Crude oil futures fell from the highest level in almost two weeks, dropping 1.1 percent to $75.63 a barrel in New York, as U.S. stocks declined and the dollar gained on the euro, reducing the appeal of commodities as an alternative investment. Shares of Russia’s biggest oil producer fell 0.6 percent to 200.73 rubles.
OAO Sberbank (SBER03 RX): The Russian central bank will leave its benchmark refinancing rate unchanged at a record low of 7.75 percent at a Sept. 28 meeting, according to all 16 economists polled by Bloomberg. Shares of the country’s biggest bank fell 1.5 percent to 83.55 rubles.
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