Raspadskaya, Severstal, Bank of Moscow: Russia Equity 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.
The 30-stock Micex Index rose 0.5 percent to 1,714.19. The dollar-denominated RTS Index gained 1 percent to 1,936.42.
OAO Raspadskaya (RASP) : VEB, Russia’s state development bank, isn’t planning to buy a stake in OAO Raspadskaya, the lender’s chairman, Vladimir Dmitriev, told reporters in Moscow yesterday. Potential buyers of Raspadskaya shares approached VEB for funding, he said. Raspadskaya dropped 4.6 percent to $6.30 in Moscow on July 11.
OAO Severstal (CHMF RM) said the $730 million loan it has received a conditional commitment for from the U.S. Department of Energy is for a period of 18 years at an interest rate of “just below 3 percent.” Russia’s biggest steelmaker added 0.5 percent to 514.50 rubles yesterday.
Bank of Moscow (MMBM RM): VTB Group will increase its stake in Bank of Moscow to 75 percent “within days,” Sergey Dubinin, chairman of VTB’s supervisory board, said in an interview broadcast on state channel Rossiya 24. Bank of Moscow was little changed at 704.40 rubles. VTB added 0.1 percent to 0.08285 rubles.
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