Russian Equity Movers: Gazprom Neft, Sberbank, VTB Are Active
The 30-stock Micex Index (INDEXCF) fell 0.8 percent to 1,501.18 by the 6:45 p.m. close in Moscow, erasing an earlier loss of as much as 3.6 percent The dollar-denominated RTS Index lost 1.1 percent to 1,542.39.
The following were among the most active stocks in the Russian market today. Stock symbols are in parenthesis:
OAO Gazprom Neft (SIBN RX), Russia’s largest oil producer, erased earlier losses and advanced after crude rallied. The stock added 1.2 percent to 127.51 rubles. Crude increased 0.9 percent to $93.38 a barrel in New York.
OAO Sberbank (SBER03 RX), the nation’s largest bank, jumped the most in more than a week, adding 2.5 percent to 80.92 rubles, after the Russian currency rose for the second day against the dollar this week. A stronger ruble discourages Russians from withdrawing and converting ruble deposits, Sberbank’s main source of funding.
VTB Group (VTBR RX), Russia’s second-largest bank, advanced 2.2 percent to 7.33 kopeks.
To contact the reporter on this story: Jason Corcoran at Jcorcoran13@bloomberg.net
To contact the editor responsible for this story: Gavin Serkin at firstname.lastname@example.org