Transneft Declines Most Since July on Sale Exclusion
OAO Transneft slid the most in almost four months after Russia’s First Deputy Prime Minister Igor Shuvalov said yesterday the oil pipeline monopoly was excluded from the government’s shortlist of planned asset sales for 2011.
The stock slumped 5.8 percent to 36,477.74 rubles at the 6:45 p.m. close in Moscow, its biggest fall since July 1.
“We see this as negative for Transneft, the share price of which had been moved by the hope for change,” Troika Dialog analysts Kingsmill Bond and Andrey Kuznetsov wrote in an e- mailed report today.
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