Russia Equity Movers: Norilsk, Rosneft, Rostelecom, Sberbank
The 30-stock Micex Index (INDEXCF) slipped 2.8 percent to 1,456.29 by the 6:45 p.m. close in Moscow, its lowest since Oct. 21. The dollar-denominated RTS Index retreated 5 percent to 1,484.98.
The following were among the most active stocks in the Russian market today. Stock symbols are in parenthesis:
OAO GMK Norilsk Nickel (GMKN RX), the world’s biggest producer of the metal, plunged to its lowest in almost a year, losing 4.6 percent to 5,692 rubles. Nickel and copper both fell on the London Metal Exchange.
OAO Rostelecom (RTKM RX) erased its worst drop in more than a week after the board of the country’s dominant fixed-line phone company approved a $500 million share buyback program and Kommersant reported Russian billionaire Suleiman Kerimov is seeking to buy a stake. Rostelecom shares climbed 1.5 percent to 157.57 rubles.
OAO Sberbank (SBER03 RX), Russia’s largest lender, tumbled the most in four weeks as the ruble weakened for a second day against the dollar. The shares lost 6 percent to 77.11 rubles. A weaker ruble encourages Russians to withdraw and convert ruble deposits, Sberbank’s main source of funding.
VTB Group (VTBR RX), Russia’s second-biggest lender, fell 3.5 percent to 7.078 kopeks.
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