Russia: Gazprom, Magnitogorsk, MDM, TransCreditBank Shares Move

The 30-stock Micex Index (INDEXCF) slid 0.6 percent to 1,845.78 by the 6:45 p.m. close in Moscow. The dollar-denominated RTS Index dropped 0.5 percent to 2,113.6.

The following were among the most active stocks in the Russian market today. Stock symbols are in parenthesis.

OAO Gazprom (GAZP RX) advanced to its highest since September 2008, adding 0.3 percent to 243.93 rubles, after Vedomosti said Russia’s gas exporter may have record sales in Europe this year based on the Russian Economy Ministry’s price forecast. Separately, Gazprom said the average export price it got for gas rose 18 percent in the first quarter to $346 a thousand cubic meters from $293 in the same period a year earlier.

OAO Magnitogorsk Iron & Steel (MAGN RX) sank to its lowest close since March 17, losing 2.4 percent to 29.78 rubles as Russian billionaire Victor Rashnikov’s steelmaker was downgraded to “sell” from “hold” by Troika Dialog.

MDM Bank (MDMBP RX) fell the most since May 2010, losing 12 percent to 17.1 rubles after the Russian lender’s board recommended no dividend be paid for 2010, according to an e- mailed statement.

OAO TransCreditBank (TCBN RX) jumped by its most in a week, adding 1.4 percent to 20.29 rubles, after VTB Group offered to pay 21 rubles a share for 1.3 billion shares in the lender, according to a regulatory filing.

To contact the reporter on this story: Jason Corcoran in Moscow at jcorcoran13@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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